This panel former Chief Economists of the World Bank draw on their research and policy experience to comment on the coming decades, and the main challenges for developing and emerging economies. The world is in the midst of a policy turmoil triggered by changes in advanced economies, due to reversals in their attitude toward globalization, trade and the environment. These changes along with rapid advances in technology, coming on the heels of growing inequality and the accumulation of enormous wealth in a few hands, are causing concerns about the future and conflict and strain in middle and lower income nations.
Treating this as backdrop, the panel will look into the future. If the global trade architecture changes, what would be the best ways for the developing economies to respond? And what should responsible, high-income countries do? Given rapid advances in technology, pressure on the environment and recent reversals on global climate agreements, the next decades may be pivotal for the world. The focus of this panel will be on how the developing world navigates these challenges. We will clearly have to think in terms of new kinds of sustainable and inclusive growth, founded on sustainable infrastructure and achieved alongside absolute reductions in emission. This in turn will need major policy transformations and cooperation between developing and developed countries. Done right we could come out at the end of a decade or two, ready for robust development, which is sustainable and equitable. This panel, consisting of individuals who have straddled the space between research and policy, and been engaged in particular with developing and emerging economies, will be part an exercise in peering into the future and part thinking out of the box in terms of the kinds of policies which nations and multilateral organizations will have to design and pursue.