The longer we remain in denial on what the emerging economies have achieved, the longer we keep global governance gridlocked and ineffective.
Longer-term growth in the emerging economies is not slowed down by secular stagnation in the advanced ones, even if short-term the emerging and advanced economies are highly correlated.
Convergence across nation-states is about the poor catching up with the rich, even as growth continues for all. Convergence is about the Global South achieving parity with the Global North. Convergence is about the distribution of incomes of people around the world flattening towards equality, and thus about the shift in the planet’s economic landscape curving to fit better the world’s spatial distribution of people.