The rise of developing nations has cut poverty while the combined economies of Brazil, China and India are on a path to overtake wealthy nations, but failure to act on climate change could reverse those gains, a UN report said Thursday.
Developing nations are now driving economic growth, helping to lift hundreds of millions of people out of poverty and bringing billions more into a new middle class, the United Nations Development Programme (UNDP).
The report sees a “dramatic rebalancing of global economic power” and forecasts that the combined economic output of Brazil, China and India will surpass the aggregate production of the United States, Canada, Britain, France, Germany and Italy by 2020.
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