Financial Times | By: Martin Wolf | GPE – July 25, 2017:
The gap between rich and poor nations narrows as the sources of dynamism in high-income economies slow.
Originally published on July 19, 2017: What is happening to the world economy? Here are some answers, in seven charts. They reveal a world undergoing profound changes. (Please click here or on link below to view charts and read full article)
The most important transformation of recent decades has been the declining weight of the high-income countries in global economic activity.
The “great divergence” of the 19th and early 20th centuries, when today’s high-income economies leapt ahead of the rest of the world in terms of wealth and power, has gone into remarkably rapid reverse.
Where once there was divergence, we now see a “great convergence”.
Yet it is also a limited convergence. The change is all about the rise of Asia and, most importantly, of China.
Profound Shifts — Seven Measures Of Change:
- Output:
- Savings:
- Population:
- Technology:
- Productivity:
- Globalisation:
- Income:
To read full article – and to view charts – please click here.
