Shift in Global Trade Patterns Threatens Developing Economies' Prosperity
The article discusses how the global market is shifting from high-income northern economies to low-income southern economies, particularly China and India. This shift is expected to lead to sustained growth in China and India, while northern economies may stagnate. As a result, there will likely be increased demand for commodities in southern economies, with producers in global value chains focusing on lower value-added activities. Standards in value chains supplying China and India are expected to be less significant.