In memory of Dr. Andreas Höfert

The exaggerated rumors of “the demise of the rest”

On my desk sits the November/December 2012 issue of Foreign Affairs, which bears a sobering title: “The demise of the rest: How the BRICs are crumbling and why economic convergence is a myth.” With the US still on the verge of the fiscal cliff, and Europe embarking on what will likely be a decade of troubled stagnation, is the last region standing now also falling apart?