Does the developing world hold the key to building a stronger global economy

While high‐income countries have been languishing in the worst recession since the 1930s, China and India have continued to power ahead. This is not a single stand‐alone event, but a sign of an important structural transformation in the global economy, a process we call ‘shifting wealth’. Africa, for instance, is forecast to post growth of 4.5 percent this year – a figure below its pre‐crisis level, but far in excess of that of the OECD average.