The modern globalisation debate deals with many important issues: governance, regulation and risk. None is more important, however, than who benefits and who loses, absolutely and relatively, in both advanced and developing countries.

Sustained high growth is expanding in the developing world. It is unique in history in terms of speed and scope and is made possible by the accessibility and growing integration of the global economy. So there is a lot at stake. Income inequality often rises in the growth process, however, and domestic policy is needed to mitigate the negative impacts on those who lose.