Economic Disparity and Global Governance Failures – the Most Important Risks in the Coming Decade

• Main Authors: Boris CHISTRUGA, Rodica CRUDU
• Format: Article
• Language: English
• Published: Dunarea de Jos University of Galati 2011-11-01
• Series: Risk in Contemporary Economy
• Subjects: economic disparity; developed countries; developing countries; global governance; gross national income
• Online Access: http://www.rce.feaa.ugal.ro/sites/default/files/BChistruga_RCrudu.pdf

Globalization has generated sustained economic growth for a generation. It has shrunk and reshaped the world, making it far more interconnected and interdependent. Although growth of the new champions is rebalancing economic power between countries, there is evidence that economic disparity within countries is growing. Issues of economic disparity and equity at both the national and the international levels are becoming increasingly important. There is also a growing divergence of opinion between countries on how to promote sustainable, inclusive growth. To meet these challenges, improved global governance is essential.