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Emerging markets are not Emerging

The beguiling idea of "convergence" still lives. But it shouldn't. The basic notion of convergence is that incomes in poor nations will rapidly catch up—or converge—with those in rich nations.http://online.wsj.com/news/articles/SB10001424052702303465004579323153272581642?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303465004579323153272581642.htmlMillions…

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