The global economy is changing, faster than it ever has in history. The economic giants of the US, Europe and Japan are giving way to the population giants of China and India. And it’s not just their population that’s exploding. With growth of an amazing 10%, these two nations are set to become economies four times the size of the US. But what does this shift in economic power mean for the world? And can the planet sustain the massive growth of emerging economies? Nobel laureate economist Michael Spence has been exploring these issues in his book The Next Convergence – the future of economic growth in a multi-speed economy. The Next Convergence is published by The University of Western Australia Press.
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This story first appeared on The Wire