Prof Emanuele Bracco

Why did Europe experience such significant economic growth during the Modern Era? And does this story offer insights into the current US-China struggle for dominance? This article examines the origins of Europe's economic and technological primacy over the past millennium, considering the research of Joel Mokyr, who was recently awarded the Nobel Prize in Economics.

Cities symbolize prosperity, attracting people through jobs, capital, and productivity gains. Glaeser (2015) argues urbanization drives growth rather than just resulting from it. Africa faces rapid urbanization where cities are growing faster than state capacity and economic development, creating new challenges but also opportunities for transformation.

China faces its own “China Shock” as rising wages and automation shift low-end manufacturing to Southeast Asia.