Matches in SemOpenAlex for { <https://semopenalex.org/work/W3122137072> ?p ?o ?g. }
Showing items 1 to 61 of
61
with 100 items per page.
- W3122137072 abstract "Novelists have a better track record than economists at foretelling the future. Consider then Gary Shteyngart's timely comic novel Super Sad True Love Story (Random House, 2010), which provides a rather graphic vision of what lies in store for the world economy. The novel takes place in the near future and is set against the backdrop of a United States that lies in economic and political ruin. The country's bankrupt economy is ruled with a firm hand by the IMF from its new Parthenon-shaped headquarters in Singapore. China and sovereign wealth funds have parceled America's most desirable real estate among themselves. Poor people are designated as LNWI (low net worth individuals) and are being pushed into ghettoes. Even skilled Americans are desperate to acquire residency status in foreign lands. This is sheer fantasy of course, but one that seems to resonate well with the collective mood. A future in which the U.S and other advanced economies are forced to play second fiddle to the dynamic emerging economies in Asia and elsewhere is rapidly becoming cliche. This vision is based in part on the very rapid pace of economic growth that emerging and developing economies experienced in the run-up to the global financial crisis of 2008-2009. Latin America benefited from a pace of economic development that it had not experienced since the 1970s, and Africa began to close the gap with the advanced countries for the first time since countries in the continent received their independence. Even though most of these countries were hit badly by the crisis, their recovery has also been swift. Optimism on developing countries is matched by pessimism on the rich country front. The United States and Europe have emerged from the crisis with debilitating challenges. They need to address a crushing debt burden and its unpleasant implications for fiscal and monetary policy. They also need to replace growth models which were based in many instances on finance, real estate, and unsustainable levels of borrowing. Japan has long ceased to exhibit any growth dynamism. And the eurozone's future remains highly uncertain--with the economic and political ramifications of its unraveling looking nothing less than scary. In such an environment, rapid growth in the developing world is the only thing that could propel the world economy forward and generate increasing demand for rich-country goods and services--the only silver lining in an otherwise dreary future. The question I address in this paper is whether this gap in performance between the developed and developing worlds can continue, and in particular, whether developing nations can sustain the rapid growth they have experienced of late. I will not have anything to say on the prospects for the advanced economies themselves, assuming, along with conventional wisdom, that their growth will remain sluggish at best. My focus is squarely on the developing and emerging countries and on the likelihood of continued convergence." @default.
- W3122137072 created "2021-02-01" @default.
- W3122137072 creator A5071559499 @default.
- W3122137072 date "2011-08-01" @default.
- W3122137072 modified "2023-09-27" @default.
- W3122137072 title "The Future of Economic Convergence" @default.
- W3122137072 hasPublicationYear "2011" @default.
- W3122137072 type Work @default.
- W3122137072 sameAs 3122137072 @default.
- W3122137072 citedByCount "0" @default.
- W3122137072 crossrefType "posted-content" @default.
- W3122137072 hasAuthorship W3122137072A5071559499 @default.
- W3122137072 hasConcept C10138342 @default.
- W3122137072 hasConcept C121087249 @default.
- W3122137072 hasConcept C13280743 @default.
- W3122137072 hasConcept C136264566 @default.
- W3122137072 hasConcept C138921699 @default.
- W3122137072 hasConcept C162324750 @default.
- W3122137072 hasConcept C17744445 @default.
- W3122137072 hasConcept C205649164 @default.
- W3122137072 hasConcept C2777526511 @default.
- W3122137072 hasConcept C47768531 @default.
- W3122137072 hasConcept C82279013 @default.
- W3122137072 hasConceptScore W3122137072C10138342 @default.
- W3122137072 hasConceptScore W3122137072C121087249 @default.
- W3122137072 hasConceptScore W3122137072C13280743 @default.
- W3122137072 hasConceptScore W3122137072C136264566 @default.
- W3122137072 hasConceptScore W3122137072C138921699 @default.
- W3122137072 hasConceptScore W3122137072C162324750 @default.
- W3122137072 hasConceptScore W3122137072C17744445 @default.
- W3122137072 hasConceptScore W3122137072C205649164 @default.
- W3122137072 hasConceptScore W3122137072C2777526511 @default.
- W3122137072 hasConceptScore W3122137072C47768531 @default.
- W3122137072 hasConceptScore W3122137072C82279013 @default.
- W3122137072 hasLocation W31221370721 @default.
- W3122137072 hasOpenAccess W3122137072 @default.
- W3122137072 hasPrimaryLocation W31221370721 @default.
- W3122137072 hasRelatedWork W135298014 @default.
- W3122137072 hasRelatedWork W148032270 @default.
- W3122137072 hasRelatedWork W158349704 @default.
- W3122137072 hasRelatedWork W1587741268 @default.
- W3122137072 hasRelatedWork W1684570815 @default.
- W3122137072 hasRelatedWork W1835195068 @default.
- W3122137072 hasRelatedWork W1992783478 @default.
- W3122137072 hasRelatedWork W2047069993 @default.
- W3122137072 hasRelatedWork W2069544990 @default.
- W3122137072 hasRelatedWork W2162654120 @default.
- W3122137072 hasRelatedWork W2230974658 @default.
- W3122137072 hasRelatedWork W2256780551 @default.
- W3122137072 hasRelatedWork W2417963890 @default.
- W3122137072 hasRelatedWork W2949867739 @default.
- W3122137072 hasRelatedWork W2993522472 @default.
- W3122137072 hasRelatedWork W638383810 @default.
- W3122137072 hasRelatedWork W2124320872 @default.
- W3122137072 hasRelatedWork W2274290681 @default.
- W3122137072 hasRelatedWork W2601374965 @default.
- W3122137072 hasRelatedWork W2993913684 @default.
- W3122137072 isParatext "false" @default.
- W3122137072 isRetracted "false" @default.
- W3122137072 magId "3122137072" @default.
- W3122137072 workType "article" @default.