The Middle Income Transition in China and America's Need for Structural Change |
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| Authors: | MICHAEL SPENCE |
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| Institution: | Chairman of the Commission on Growth and Development (2006–2010) and is the author of The Next Convergence: The Future of Economic Growth in a Multi‐Speed World, Farrar, Straus and Giroux, forthcoming, May, 2011. |
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| Abstract: | The G‐20 supplanted the G‐8 as the executive committee of globalization as the emerging and advanced economies came together in the wake of the Wall Street crash to stave off depression. Now, each country is going its own way. In this section we examine whether the G‐20 can be saved, and what the countries within it must do to bring the global economy into balance. |
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