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OPINION
A stubborn recession
After 2000, globalization and surging
commodity prices astronomically
and the virus have Erdogan
boosted economic growth among na- feeling the ire at home
tions with emerging economies. Over
the next decade their share of the BY CARLOTTA GALL
global economy nearly doubled, grow-
ing to 35 percent. By 2007, 107 of the Hobbled by restrictions on his tobacco
110 developing economies featured in shop, Ozgur Akbas helped organize a
the Penn World Table were catching up demonstration in Istanbul last month to
to the United States in average income, protest what he called unfair rules im-
helping millions to escape poverty. The posed on merchants during the pan-
celebratory mood was captured in a demic.
popular phrase: “The rise of the rest.” “There are many friends who have
Then came the crisis of 2008. Trade shut down,” he said in an interview. “And
and capital flows plunged and com- some are on the verge of suicide.”
modity prices tanked, while slowing Turks had been grappling with a fall-
global population growth started to ing currency and double-digit inflation
shrink work forces. Instead of rising for two years when the pandemic hit in
again, developing economies saw their March, sharply worsening the country’s
share of the global economy stagnate deep recession. Nine months in, as a sec-
in the 2010s. Half ond wave of the virus sweeps through
The pandemic the countries in the Turkey, there are signs that a significant
Penn World Table portion of the population is over-
has created fell behind the whelmed by debt and increasingly go-
many obstacles United States in ing hungry.
to growth, average income. MetroPoll Research, a respected
but also some Recently hyped polling organization, found in a recent
opportunities stars like Brazil PHOTOGRAPHS BY EDUARDO SOTERAS/AGENCE FRANCE-PRESSE — GETTY IMAGES survey that 25 percent of respondents
for developing and Russia are A soldier last month at the border between Ethiopia and Eritrea. Prime Minister Abiy Ahmed of Ethiopia has denied that soldiers from Eritrea had entered the Tigray region. said they could not meet their basic
economies. growing slower needs. Mr. Akbas said he sees it daily
than the U.S. econ- among his customers.
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