The World Bank expects the US dollar to lose its solitary dominance in the global economy by 2025, as the euro and the renminbi establish themselves on an equal footing in a new ‘multi-currency’ monetary system.
A common yardstick for measuring societal equality is the Gini coefficient, which runs from 0 (everyone has the same income) to 1 (one person has all the income). Most countries range between 0.25 and 0.6. The Economist shows that the Gini coefficient has gone up a lot in some rich countries since the 1980s. And as poor countries are on average growing faster than rich ones, inequality in the world as a whole is falling.
Two centuries of western hegemony may be coming to a close rather earlier than many had imagined: in 2011 the economies of the rising states are likely to grow by 8% more, while debt-burdened advanced nations will mostly struggle to expand by more than 2%. The pattern is well-established. The global divide is now between slow- and fast-growing nations as much as between the rich and the rising.