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The Long, Slow Death of Global Development - American Affairs Journal

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Most emerging markets have not found an engine of durable growth comparable to manufacturing—most have indeed grown over the last few decades, but dependence on services and commodities exports has not made them rich. Thus most “developing” countries—we are skepti­cal of that euphemistic label—are in a worse structural position than they were a few decades ago...

Winter 2022 / Volume VI, Number 4 T he first two decades of the twenty-first century were a period of tremendous optimism about the trajectory of the poor world. If you spent those years as a news consumer in the rich world, it may have been difficult to tell: there were plenty of stories about crisis, decline, and the breakdown of social order. But for all the gloom, it seemed that the bulk of humanity—the 90 percent or so of humans who live outside anglophone North America, Europe, Japan, and a few wealthy outposts—was experiencing brisk and undeniable progress. Scores of optimistic books an

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