3

Threats to the Global Market System

THE MODELING by the World Bank discussed in chapter 2 provides reason for some optimism. The forces of market capitalism, and the forces for market capitalism, seem to have been gathering strength. Even after the impact of the 2008 financial crisis is considered, long-term prospects show reasonable growth. The global middle class grows, and the gap between the mature, rich nations and the growing, developing nations narrows. But there are also challenges. The benefits of growth will not be evenly spread across countries or within countries, and collateral damage to the environment will be significant. Scarce resources will be consumed, and the world’s climate will continue to change.

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