The Economist (September 13, 2014)
2014/ 09/ 14 by jd in Global News
“Ten years ago, developing economies were catching up with developed ones remarkably quickly.” But this “aberration” resulted from a convergence of favorable factors like “the commodities boom and hyperglobalisation of the turn of the century.” It once looked like worldwide average incomes would catch up with those of the U.S. in little more than a generation. Now, it appears the catch up will take decidedly longer, perhaps a century or more.
Tags: Aberration, Century, Commodities boom, Developed, Developing economies, Generation, Hyperglobalisation, Incomes, U.S.
