A succinct description of how the recent period of growth in developing countries is leading to a convergence with the advanced countries, or developed world.

Jobs growth was slow in May, renewing pessimism about the U.S. economy.

Many low-paying jobs have moved from the United States to rapidly growing markets abroad, and higher-paying jobs may soon follow. While Americans benefit from cheaper goods, employment opportunities have diminished. Policymakers should address this trade-off as a first step toward tackling questions of inequality and economic distribution.

Michael Spence writes that slowing growth puts Chinese authorities in the tricky position of shifting their economy from a growth model based heavily on public investment-led growth to a growth model that mixes more domestic consumption with higher-yielding forms of investment.

Michael Spence writes that cooperation between the United States and China on issues surrounding the environment, trade, investment, and financial stability will be critical not only for the continued well-being of the two countries, but also for the successful rebalancing of the world economy.

Michael Spence argues that, although research suggests high debt levels have a negative effect on long-term growth, countries cannot restore growth through austerity measures alone.

Generally, for advanced countries with deep and liquid capital markets like the United States, the best policy is to allow these markets to determine exchange rates.

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Michael Spence outlines the conflicting objectives that President Obama and the U.S. Congress must reconcile as they negotiate a new federal budget.

Michael Spence examines what options the Italian government has for restoring economic growth as eurozone efforts at stabilization the banking sector and sovereign-debt markets founder.

Michael Spence argues that effective management of the assets side of national balance sheets is critical for promoting market efficiency, innovation, and resiliency.

Michael Spence describes how technological progress affects employment and why policymakers should increase investment in education and skills to help workers adapt.

What does 2013 have in store for the global economy? We asked five distinguished experts to identify the most important trends, challenges, and opportunities in the upcoming year.

Michael Spence explains what China's leadership can learn from Singapore about formulating a growth strategy that is inclusive, stable, and sustainable.

Michael Spence writes that Hurricane Sandy and its aftermath have highlighted the need for greater investment in critical infrastructure to minimize economic disruption after a disaster.

Michael Spence shares his bullish outlook on emerging markets and their ability to rebound from a global growth slowdown.

Michael Spence examines the causes of recent distress in both advanced and developing economies and evaluates potential policy responses.

Michael Spence and David Brady cite risk aversion, rigid political systems, and a dearth of effective policy tools among the factors incapacitating political leadership in the world's major economies.

To diagnose the ills of the struggling global economy, Michael Spence considers the impediments to growth in both advanced and developing nations.

Michael Spence argues that much of the furor over austerity misses the fact that deficit reduction is only one step on the road to restoring competitiveness, employment, and growth.

Michael Spence surveys a variety of economic development models, highlighting the problems of long-term sustainability inherent to each.

Michael Spence writes that myopic U.S. energy policies highlight the need for persistence, longer-term thinking, and bipartisanship in U.S. policymaking.

To achieve sustainable economic growth, Michael Spence says education and values must promote greater awareness of the consequences of individual and collective choices.

Michael Spence wants to rethink the role of the state in addressing the problems of instability and inequality that are endemic to free-market systems.