![]() Over the coming years, millions of people in the BRIC countries-Brazil, Russia, India, and China-and elsewhere will be lifted out of poverty and see their disposable income rise. Citizens in the developed world view this as both positive due to the falling cost of consumer goods and negative due to the perceived pressure on their jobs and wages.īut a new phase of globalization is now underway due to the “demand shock” caused by rising prosperity in middle-income countries. The authors and institutions that produced this material are a part of the Just Jobs Network.Īnalysis of globalization in recent years has focused primarily on the “supply shock” created by a huge increase in low-cost labor in China, India, and other emerging markets. ![]() Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the position of the Center for American Progress.
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