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Developing economies risk falling off the convergence process

As growth slows in China and the US faces stagflationary winds, the challenges put a question mark on the wellbeing and financial viability of developing economies

©The Financial Times Limited 2020 Oct 18, 2021 / 12:11 PM IST
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Developing economies risk falling off the convergence process

Mohamed El-Erian Around the globe, macroeconomic challenges are mounting, from higher inflation to multiplying shortages of goods and labour. The impact on advanced economies and China has been much debated. There has been less attention though paid to the vulnerability of a significant group of developing countries. This goes well beyond the short term. When combined with other forces in play, the most exposed developing countries risk being knocked off a secular global convergence process that many in development economics and finance...

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