Since the 1970s the international economy has seen major changes. First, many countries in Asia have had very high growth rates and there are some common features in these experiences to the point that commentators speak of an Asian model of growth. Whether or not this approach can be replicated by other developing regions, many emerging countries are becoming important economic players and “new donors” in development cooperation. China is a special case; her economic growth has lifted millions of people out of poverty and has changed economic relations all over the world. Second, since 1980 inequalities have been rising; in many countries, both high income and developing ones, income distribution has worsened, and income and wealth are now highly concentrated in the top 10% and top 1%, respectively, of the population. Third, since the 2007–2008 Great Financial Crisis economic growth has slowed almost everywhere; even China has lost its pace. Is this a long run phenomenon? Fourth, large trade “imbalances”’ have emerged with no tendency to correct countries’ surpluses and deficits and many countries are moving toward protectionist policies. Fifth, most developing regions are experiencing huge migration outflows, particularly from South Asia and Sub-Saharan Africa. These facts might seriously hamper the progress toward sustainable development.