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“The upward spiral was checked from the mid-1980s and reversed around 1990. For the last couple of decades, the G7 share has been torqueing downward at a mighty pace. Today it is back to the level that it first attained at the very beginning of the nineteen century.”
― The Great Convergence: Information Technology and the New Globalization
― The Great Convergence: Information Technology and the New Globalization
“From 1990, the trend flipped; a century’s worth of rich nations’ rise has been reversed in just two decades. Their share is now back to where it was in 1914. This trend, which might be called the “Great Convergence,” is surely the dominant economic fact of the last two or three decades. It is the origin of much of the anti-globalization sentiment in rich nations, and much of the new assertiveness of “emerging markets.”
― The Great Convergence: Information Technology and the New Globalization
― The Great Convergence: Information Technology and the New Globalization
“The Uruguay Round lasted from 1986 to 1994. As Figure 22 shows, the really original element in this phase was the rapid tariff cutting by poor nations. It is important to note, however, that this developing-nation liberalization had nothing to do with the GATT since the “don’t obey, don’t object” principle was still in operation. Instead, these reductions were the beginning of a revolution in developing-nation attitudes that are really part of Phase Four and the effort by poor nations to attract offshore factories and jobs (as will be discussed in Chapter 3).”
― The Great Convergence: Information Technology and the New Globalization
― The Great Convergence: Information Technology and the New Globalization
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| One Million Pages...: Whisper's one million pages | 63 | 136 | Jan 03, 2021 02:09PM |
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