For a quick summary of our global economics, have a look at Cees Bruggemans "10 Quickies"

Secondly, the other great turbine of our time is the 75% of mankind (5 billion people, only half of which are Chinese and Indian), whose incomes are still barely 1:25 of the rich world and who are aggressively preoccupied with economic catch-up. Growing their real incomes by some 4%-12% annually, this teeming mass of people is restlessly pressing forward in a development surge that won't come to rest for decades. Most of global GDP growth and commodity demand will originate from here, keeping commodity prices high, and supplying the world with most of its saving increments.

Full article on FNB economics