For a novel and somewhat dispiriting theory of economic divergence, read A Farewell to Alms, published this year, by Gregory Clark of the University of California at Davis.

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The group also said there will be economic growth divergence in the near future, with the U.S., U.K., Japan and Brazil showing economic growth, while China, Canada, France and India are set for economic weakness in the coming months.

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The conditions driving the divergence of economic policies in particular, sluggish growth in the rich world are likely to last for years.

ECONOMIST: The global economy

Looking at the global picture, the divergence of regional economic performance is going to get a lot bigger in terms of growth, inflation and cost of capital.

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This has led to a divergence in competitiveness, in growth of exports, in overall economic growth, and in employment among the member countries.

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