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As the world emerges from a period of economic torpor, attention is refocusing on two long-term trends whose continued rise has been obscured by the recent turmoil: the changing shape of globalization and the maturing of information technology (IT). The rise of a multi-polar world economy-in which economic power and activity are increasingly diffused across geographic borders-continues apace. The recovery now under way is demonstrating the resilience of emerging markets. Developing economies already account for more than half of world output. They have not only weathered the crisis better than developed economies, but they are also helping to power the global recovery, generating the bulk of expected growth in the global economy in 2010.
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