The next big development challenge

The latest economic forecasts from the IMF and the World Bank are sobering, pointing to protracted slowdowns across the board

We have suddenly arrived at a tricky stage in global economic development. Emerging markets are losing their dynamism, after a remarkable three-decade-long run during which they caught up rapidly with advanced economies. Moreover, rekindling this vigour requires a new economic strategy. But where will such a model come from, and who will provide the intellectual leadership?

The latest economic forecasts from the International Monetary Fund and the World Bank are sobering, pointing to protracted slowdowns across the board in China, India, Sub-Saharan Africa, and Latin America. Of course, alarmism about the “end of growth” might be as overblown as past hype