shared growth

Syllable breakdown

Dictionary meaning

an idiom and development concept describing economic growth whose benefits are widely distributed across society rather than concentrated among elites, encompassing the idea that the process of growth should itself generate broad participation and opportunity rather than requiring redistributive transfers after the fact to correct the skewed distributional outcomes of narrowly-based expansion; shared growth as a development concept emerged from analysis of the East Asian economic miracle — particularly the experiences of South Korea, Taiwan, and later China — in which relatively equal asset distributions, investments in universal education and health, and labour-intensive industrialisation combined to produce growth that improved living standards across income groups simultaneously; in international solidarity discourse shared growth extends beyond the national to the global level, describing a world order in which the prosperity of wealthy countries creates genuine opportunities for developing countries rather than locking in unequal terms of trade, intellectual property regimes, and financial flows that perpetuate Southern disadvantage