Presentation from this event is available here.
City University of New York
Center for Global Development
The last quarter century of globalization has witnessed the largest reshuffle of global incomes since the Industrial Revolution. Branko Milanovic finds that the main factor behind the reshuffle was the rise of China and, to a slightly lesser extent, all of Asia. By tracking the evolution of individual country-deciles through a new panel database of 100 country-deciles and deriving the global Growth Incidence Curve, Milanovic and co-authors are able to show the underlying elements that drove the changes.
They find that three changes stand out, and those changes open up discussion on the following political issues: how to manage rising expectations of political participations in emerging countries like China, how to “placate” rich countries’ globalization losers so that they do not begin supporting populist anti-immigrant policies, and how to constrain the rising economic and political power of the global top 1 percent.
*The CIRF series is an academic research seminar that brings some of the world's leading development scholars to discuss their new research and ideas. The presentations are at times technical, but retain a focus on a mixed audience of researchers and policymakers. There’s more about the series here.