In this essay, David Oks examines a startling reversal in global economic development. For nearly two decades, poor countries appeared to finally be catching up to rich ones, validating a long-standing prediction of economic theory and offering genuine hope for global convergence. Then, suddenly and dramatically, this progress ground to a halt. Through an analysis of recent research and economic data, Oks explores what drove this brief period of catch-up growth and why it ended so abruptly, ultimately challenging optimistic narratives about globalization and development.
00:00 - Introduction
03:49 - A short history of (non)convergence
11:40 - Convergence comes alive?
17:37 - What if it was just China?
