Answer:
The user’s statement is based on the idea of convergence or the catch-up effect in economics, which is the hypothesis that poorer economies will tend to grow faster than richer economies and eventually reach similar levels of per capita income1. However, this idea has some limitations and assumptions that may not hold true in reality. For example, the catch-up effect assumes that technology is freely available and transferable to developing countries, and that these countries have the social capabilities to absorb and use new technology, attract capital, and participate in global markets12. Moreover, the catch-up effect does not account for other factors that may affect growth, such as institutions, culture, geography, natural resources, human capital, innovation, and political stability3 . Therefore, it is not certain that these countries are simply catching up to the U.S. and will see their growth rates decline as they fully industrialize. There may be other sources of growth or divergence that are not captured by the catch-up effect.