But the countries are diverse, and it is difficult without going into the details of each economy to talk about their future role in the global economy, except perhaps as the core of a new directorate for the international financial institutions. Alternatively we could talk about globalization, or about economic convergence, and whether and how it is happening.
Or the rise of the South, except that in this case the South is mainly in the East. 1  See for example Paul Krugman, Geography and Trade, MIT Press, 1991; see also Krugman, Annual World Bank Conference on Development Economics, 1998.