The growth for developed nations is going to be a problem where tough labor markets will have citizens suffering.
The ECONOMIST BLOG made an interesting point.
"The bottom, realistically, is good news for practically everyone. What we see is that countries that are home to about 740 million people, or about 11% of world population, are producing 40% of world output, down from over 50% 30 years ago. It would be bizarre if that state of affairs persisted, and it would be extremely unfortunate, as it would mean that most of the world's population was continued to languish in poverty."
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