The emergence of India, Brazil and China as economic powerhouses will have a dramatic impact on resources, environment, manufacturing goods and income distributions. It will also increase the resources devoted to R&D that might abate some of the tensions created. But the so-called "structural adjustment" problems for advanced economies – especially the hardship created for those whose work is exported to low-wage countries – may be the hardest and longest-lasting of the challenges. (This is part of the IPPR's New Era Economics series)