Acceleration in global deindustrialisation: Social and political risk

Global deindustrialisation is accelerating and is having a major impact on OECD countries, due to the across-the-board shift in demand from industry to services. We should therefore expect further losses of manufacturing jobs (and therefore of jobs in industry-related services), which will exacerbate the labour market polarisation (well-paid skilled jobs on the one hand, poorly-paid unskilled jobs on the other hand). This development is likely to lead to increased inequality and reduced social mobility, and therefore to continued significant social and political tension.