The Next Convergence: The Future of Economic Growth in a Multispeed World
With the British Industrial Revolution, part of the world’s population started to experience extraordinary economic growth—leading to enormous gaps in wealth and living standards between the industrialized West and the rest of the world. This pattern of divergence reversed after World War II, and now we are midway throug
The discussion is clear and coherent, without "dumbing down" the topics or the analysis -- although the analysis does stay fairly high-level.
A key observation in the book is that some emerging economies are able to enter periods of rapid growth. Against a backdrop of 2-2.5% growth sustaine ...more
When I first ran across this book, I was absolutely intrigued. There is hardly an American who does not realize that the third world (especially China and India) are rapidly catching up with the economic strength of the western world. Given the current economic climate, how is this going to affect us ...more
As a previous update while I was reading it said, it's a brilliant book, and should be considered a must-read for anyone who wants or is going to claim they know what's happening in developing markets, China, India, Africa, currency exchange rates, the EU, etc. You might find yourself looking at the USA national debt differently, as well as the policies and plans (real or perceived) of China in regards to their economy, the so-called artific ...more
After some time, it became a bit too repetitive but it could be a nice complement of a package of books that would hel ...more
He didn't convince me. The primary reason is that his extrapolations are based on the premise of continued growth, which is almost impossible to envision without cataclysmic environmental consequences. Spence gives lip service to the issue, but never really engages it, falling back on expectations of greater cooperation and technological development.
I hope he's ri ...more
Primarily discusses emerging economies, and how their variant policies and demographics influence their growth. Although insights here are extremely useful for more developed economies.