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p. 146Epiloguelocked

  • Robert C. Allen

Abstract

China is on course to catch up with the West, but what of Africa, Latin America, and the rest of Asia? Income per head in the rich countries grows at about 2% per year, so countries must grow faster than that to close the gap. Many poor countries in Asia and Latin America would have to grow at 4.3% per person per year to catch up to the rich countries in 60 years. For that to happen, total GDP would have to grow at least 6% per year for 60 years. Much poorer countries, like many in sub-Saharan Africa, would have to grow even faster, or it would take even longer to catch up....

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