# Professor Michael Spence's work on developing economies is cited

1 Faculty News August 10, 2019 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg-logo-2018.jpg?itok=8QkuS4cr)>

Excerpt from [Bloomberg](https://www.bloomberg.com/news/articles/2019-08-11/trump-is-making-xi-s-superpower-2050-plan-tougher-by-the-day)-- "Only five developing countries have made the transition to advanced-nation status while maintaining high levels of growth since 1960, according to Nobel laureate [Michael Spence](https://www.stern.nyu.edu/faculty/bio/a-michael-spence), a professor at New York University’s Stern School of Business."

[Read more](https://www.bloomberg.com/news/articles/2019-08-11/trump-is-making-xi-s-superpower-2050-plan-tougher-by-the-day)