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Michael Spence
By Michael Spence - May 07,2019
MILAN — The global economy is undergoing very large structural shifts, driven by three megatrends. One is the digital transformation of the foundations on which economies are built and run.
By Michael Spence - Jan 22,2019
MILAN — China’s strategy for economic growth has been a work in progress since Deng Xiaoping launched the country’s “reform and opening up” in 1978.
By Michael Spence - Dec 29,2018
MILAN — About a decade ago, the Commission on Growth and Development (which I chaired) published a report that attempted to distill 20 years of research and experience in a wide range of countries into lessons for developing economies.
By Michael Spence - Sep 30,2018
MILAN — The global economy is undergoing a far-reaching transformation.
By Michael Spence - Aug 26,2018
MILAN — Just before the collapse of the US investment bank Lehman Brothers triggered a financial crisis that would engulf the world economy, the Commission on Growth and Development published an assessment of emerging-economy growth strategies, aimed at drawing lessons from previ
By Michael Spence - Mar 18,2017
Successful economic globalisation requires reasonably successful growth patterns in individual countries.That dynamic characterised the 30 years or so after World War II: growth rates were relatively high across a wide range of countries; their benefits were broadly shared within
By Michael Spence - Jun 22,2016
I do not believe that foreigners contribute usefully by issuing strong opinions about how a country’s citizens, or those of a larger unit like the European Union, should decide when faced with an important political choice.
By Michael Spence - Oct 22,2015
When Amazon was founded in 1994, and eBay the following year, they harnessed the connectivity of the Internet to create new, more efficient markets.In the beginning, that meant new ways of buying and selling books and collectibles; but now e-commerce is everywhere, offering custo
By Michael Spence - Oct 07,2015
It seems obvious that if a business invests in automation, its workforce — though possibly reduced — will be more productive.So why do the statistics tell a different story?In advanced economies, where plenty of sectors have both the money and the will to invest in automation, gr
By Michael Spence - May 25,2015
When World War II ended 70 years ago, much of the world — including industrialised Europe, Japan and other countries that had been occupied — was left geopolitically riven and burdened by heavy sovereign debt, with many major economies in ruins.One might have expected a long peri



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