Crisis to Speed Up Power Shift to Emerging Economies, CEBR Says

The financial crisis will accelerate the shift of economic power to emerging economies as their recovery outpaces that of developed countries, the Centre For Economics And Business Research said.

Nations in the Organisation for Economic Cooperation and Development will account for 66 percent of the world’s gross domestic product by 2015, compared with 77 percent in 2004, the London-based group said in an e-mailed statement today. The OECD consists of 33 of some of the world’s biggest economies, including the U.S., the U.K. and Japan.