Today, the world’s economies are facing some extraordinary challenges. While the effects of the recent economic downturn are still being felt, new pressures are stretching many governments’ ability to instigate a recovery and national debt levels and unemployment remain high. The pace and scale of globalisation is unprecedented. Its distinctive features are increasing international trade, deepening economic integration, especially in emerging economies, and greater geographic fragmentation of production processes generating ever more complex global value chains. In this new geography of growth, international competition from new players is eroding the lead of more established economies. Environmental pressures challenge the sustainability of development models. Longer life expectancy is putting a greater strain on the capability of health systems to meet the needs of an ageing population.