“The meek shall inherit the earth” — that seems to be the latest message from the United Nations Development Program.
Their 2013 Human Development Report chronicles the recent, rapid expansion of the middle class in the developing world. It also predicts that over the next two decades growth in the so-called “Global South” will dramatically shift economic and political power away from Europe and North America.
The report projects that by 2020 the combined gross domestic products of Brazil, China and India will exceed the entire output of Canada, France, Germany, Italy, Great Britain and the U.S. put together.
“Much of this expansion is being driven by new trade and technology partnerships within the South itself,” according to the report.
And this is translating into more than just financial gains in the developing world. According to UNDP, every country surveyed — and just about every nation on earth was sampled — improved the health, education and income of its citizens over the last decade.
Bill Orme, a spokesman for UNDP, says the report finds that economic growth and human growth are inextricably linked. He says government investment in key social sectors is crucial in moving nations forward.
“Even if your only goal is to boost your economic output, what you need to do is invest in your people,” ,” Orme says. “You need to invest in education … health … governance structures that allow people to affect their lives on the community, local and national level. And if you do all those things right, economic progress will follow.”
The other key factor for nations trying to get ahead in the 21st century is globalization.
Chosen excerpts by Job Market Monitor
via Power Shift Under Way As Middle Class Expands In Developing World : Shots – Health News : NPR.
Related Posts
The geographical shift of the middle class will entail relocalization – World Economic Forum
The geographical shift of the middle class has implications for supply chains says The Future of Manufacturing, A World Economic Forum Report in collaboration with Deloitte Touche Tohmatsu Limited The rise of demand centres in Asia, along with the typical costs that accompany more developed nations, will likely increase localization of production. Increasingly expensive logistics are leading some companies, such as … Continue reading »
China / The Rumored Middle Class
Rumors of a rising Chinese middle class have been touted widely. However, the evidence supporting these claims remains conflicting at best. The “middle-class” jobs outsourced from the United States have not necessarily translated to “middle-class” jobs in developing nations, especially in China. Defining the middle class has always been a difficult venture, but on several …Continue reading »
Latin America / The middle class grew 50% in the past decade (video)
. . In the past decade, the middle class in Latin America grew 50%, and now represents 30% of the population. According to the experts, this growth is due to growth and job creation To maintain these gains, the region needs to enact policy reforms within the employment, tax and social security sectors. Ful Report … Continue reading »
Job Market Monitor 
Discussion
Trackbacks/Pingbacks
Pingback: The American Middle Class – No Longer the World’s Richest , Canada now higher finds NYT | Job Market Monitor - April 22, 2014
Pingback: Middle Class in the World -13% of people Pew Research Center finds | Job Market Monitor - July 10, 2015