The global economy looks radically different from ten years ago. More than 80 countries grew twice as fast as the OECD average in the last decade, lifting hundreds of millions of people out of poverty. This secular convergence trend has only been reinforced by the current crisis. Most emerging economies have weathered the global crisis relatively well and some of them are now the engines of the world economy.

The year 2011 has seen various forms of social upheaval affect economies and politics not only in the Middle East and North Africa, but in all regions of the world. Events in 2010 and 2011 were not the purview of countries feeling most acutely the bite of the financial crisis. In fact, many of these countries weathered the crisis well, rapidly returning to strong and fast growth. Demonstrations and social unrest seem rather to be linked to a perception that the fruits of growth are not being shared equally, and to a limited scope for participation in the policy making process. Good macroeconomic management and social expenditure, while necessary, have proven insufficient if pursued in contexts where social cohesion is low or deteriorating.

The world has changed markedly since the beginning of the new millennium. “Shifting Wealth” describes a phenomenon in which the centre of economic gravity of the world has progressively shifted from West to East and from North to South, resulting in a new geography of growth. The new scenario presents some major opportunities and challenges for the creation of socially cohesive societies. This report examines social cohesion in fast-growing developing countries and provides policy makers with recommendations for ways to strengthen it. A cohesive society works towards the well-being of all its members, fights exclusion and marginalisation, creates a sense of belonging, promotes trust, and offers its members the opportunity of upward mobility. This report looks at social cohesion through three different, but equally important lenses: social inclusion, social capital and social mobility.