Degrowth in wealthier countries could mean several things: Shifting away from
GDP as a measure of prosperity, reducing environmentally unfriendly practices,
improving sustainability, and more. This idea could be great in terms of increasing
economic activities in still developing countries like Peru. I like to think of it as
redistributing weight on a scale. The more we take off of the wealthy countries
side, the more we can give to developing countries, evening out the playing field,
making everyone better off. Also, the less environmental impact wealthy countries
have across the world. the more developing countries can thrive.
On the contrary, as I have seen others already mention, too much of a good thing
can exist. Any sudden change in wealthy countries' economic goals could shock
developing countries. Right now, many countries rely on the United States' current
economic climate. If too much changes in too little time, countries like Peru may
suffer by not being able to change quick enough, resulting in many lost jobs and a
worsening economy.