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The World Bank says six major emerging economies -- Brazil, China, India,
Indonesia, South Korea, and Russia -- will account for more than half of all
global economic growth between now and 2025.In a study released Tuesday, the
World Bank also predicts the international monetary system will no longer be
dominated by a single currency, but instead successful economies will help drive
growth in lower-income nations through trade and financial transactions.
The report says advanced economies such as the European Union, Japan, and
the United States will all continue to play a core role in fueling global
growth.World Bank chief economist Justin Yifu Lin has called the economic
outlook "multipolar" and says international financial institutions must adapt
quickly to keep up with changes in the global economy. |
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