Global economic convergence between emerging markets and G7 slowing
Progress by emerging markets in closing the economic gap with developed G7 nations has decelerated.
Emerging markets have historically been catching up to the world's wealthiest G7 economies. However, this convergence trend is now stalling. An economic analyst has highlighted how the momentum that once drove developing nations towards parity with advanced economies has lost pace.
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Global economic convergence is stalling
Keun Lee points out that emerging markets were once closing in on the G7, but that progress has slowed