The End of Convergence?
Until recently, there was a broad consensus that this was to be the emerging countries’ century. But America’s impending exit from quantitative easing is raising questions about emerging economies’ growth prospects – questions that will surely spur heated debate at the meetings of the IMF and the World Bank this month.
https://prosyn.org/pisLGDP
WASHINGTON, DC – Until recently, there was a broad consensus that this was to be the emerging countries’ century. But financial markets’ reaction to the US Federal Reserve’s warning in May that it may wind down its unconventional monetary policies led many analysts to question how rapid emerging-market growth would be. At this month’s Annual Meetings of the World Bank Group and the International Monetary Fund, the emerging countries’ prospects will be a topic of heated debate.