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The Rapid Shift In the Global Economy

April 5, 2013  • Institute Contributor

The Aspen Institute recently hosted former World Bank President Robert Zoellick and the Peterson Institute for International Economics’ Steven Weisman in discussion on Developments in the International Economy.

During the Washington Ideas Roundtable discussion, Zoellick explained that over the past five years, two-thirds of global growth came from developing economies, whereas, as recently as the 1990s, those economies accounted for closer to only a quarter—or even a fifth—of growth. “The nature of the world economy is changing,” he said, “and it is changing quickly.”

Watch below as Zoellick reports the details and potential impact of a general shift in the consumption of resources, the increasing urbanization of major countries, and a fundamental flux of international order.