“This book is about the 100-plus years that began in 1945 and will run to the middle of the twenty-first century. Since we are slightly over half-way along, we can think of it as a midterm report.”
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 going forward? Spence lays the groundwork in his impressive work The Next Convergence, explaining how the developing countries have been able to maintain an impressive growth rate (China is as 9.5%!), how they have weathered the Global Financial Crisis, and what is the next step for them and for the already advanced countries.
I found this book informative and fascinating, and was especially impressed how this Nobel Laureate author kept it at a level I could understand. I admit, I enjoy the topic of economics and have related college degrees, but most literate persons should be able to understand this book.
4 stars (out of 5)
Published in 2011