West must share benefits of growth with emerging world: Raghuram Rajan at Davos

Without naming any country, Raghuram Rajan said the West must realise that their population is ageing and the demand for their products would mostly come from the emerging world.

By: PTI | Davos | Published: January 23, 2018 3:31 pm

Rajan said he’s not sure about the US but some countries are doing things in this area and certainly the governments can play a role here. (Express photo: Nirmal Harindran/File)

Former RBI Governor Raghuram Rajan on Tuesday said the Western world must realise they cannot go a long way without the help of the emerging economies and warned that no one would be able to resolve any problem of a ‘fractured world’ if things are not set right soon.

Without naming any country, he said the West must realise that their population is ageing and the demand for their products would mostly come from the emerging world.

Speaking in Davos at a session of the World Economic Forum (WEF) Annual Meeting, Rajan said there is a risk that by the time the West goes to the emerging world for their support, they may have to answer quite a few questions about why they did not share the benefits earlier.