Convergence—where poor countries grow faster than rich countries—creates stability; without it, fragility increases. Yet advanced economies are not pursuing policies that would enable convergence; instead, they concentrate capital flows through monetary and fiscal dominance.
causalpending
Speaker
David MalpasEvidence Quote
“we really want a world where there's some kind of convergence where the the the people in lower income levels actually get to grow faster that's what creates stability so we don't have a process to do that and there doesn't seem to be very much interest in getting to that process”
Source
Fix the global debt crisis before it's too late, warns World Bank's David Malpass— GZERO MediaCreated: 8/12/2026, 6:44:21 PM
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