# Prof. Michael Spence on the growth of emerging markets

1 Faculty News February 3, 2014 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025700.jpg?itok=LSPbU2V1)>

Excerpt from [Financial Times](http://www.ft.com/intl/cms/s/0/e77a70cc-8a9b-11e3-9465-00144feab7de.html?siteedition=intl#axzz2sMhoRBzo) -- "[Professor Spence](http://www.stern.nyu.edu/faculty/bio/a-michael-spence) argues that we are in the midst of a 'century-long journey in the global economy. The end point is likely to be a world in which perhaps 75 per cent or more of the world’s people live in advanced countries.'”

[Read more](http://www.ft.com/intl/cms/s/0/e77a70cc-8a9b-11e3-9465-00144feab7de.html?siteedition=intl#axzz2sMhoRBzo)