Even though the net effect of these counterbalancing forces is mostly believed to have reduced the level and volatility of inflation, how long this disinflationary effect will last remains an open question.
Still, in view of the much lower price levels of the economies in emerging markets, they are expected to increase their market shares in the developed economies, which in turn will help to contain import price pressures there. Ultimately, globalisation is an opportunity, not a threat. Globalisation fosters economic prosperity and raises living standards.