Developing economies may not have much control over the headwinds that they face today, but that does not mean that they are powerless. Much can be done not just to sustain moderate growth but also to secure a more prosperous and resilient future.

There is no question that the recovery from the global recession triggered by the 2008 financial crisis has been unusually lengthy and anemic.

A global economy that is levering up, while unable to generate enough aggregate demand to achieve potential growth, is on a risky path.

Michael Spence Quotes