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The World Bank released a new report. Global growth is 2.5% for 2026. This is the slowest rate since COVID.
You need to look at the hidden numbers. Developing nations stopped catching up to rich nations ten years ago.
Only China and India made progress.
Income in developing nations is 12% of the level in rich nations. Growth is 3%. This is 1% lower than the 2000 to 2019 average.
The gap grows.
For thirty years, experts believed in convergence. They thought poor countries grew faster. They thought these countries adopted technology cheaply.
The data lied.
China and India hid the truth. They have huge internal markets. They have strong states. Together they hold 2.9 billion people.
Without them, there is no catch-up.
Old growth came from cheap tools.
- Textile factories.
- Mobile banking.
- Global supply chains.
New growth needs expensive tools.
- AI needs billion dollar data centers.
- Chips need ten billion dollar clean rooms.
- Clean energy needs expensive grids.
The cost to start is higher now. Old tech helped labor. New tech helps capital.
Growth slows in Africa. Growth drops in the Gulf.
The World Bank now spends billions on emergency response. They focus on crisis management. They want to stop the gap from widening.
Convergence is not a law. It was an exception. It needed cheap energy and two large states.
Without these, only the gap remains.
Source: https://dev.to/thesythesis/the-two-exceptions-2996 Optional learning community: https://t.me/GyaanSetuAi