The focus of Michael Spence in this chapter is economic development and the evolving relationship between developed and developing countries. In exploring these issues, Spence highlights the centrality of economic growth. In this perspective, he argues that economic growth is not sufficient to generate sustainable development. What is also critical is good governance. In the conversation Spence recognizes as well that the gap between rich and poor is a major problem, in part accounting for the rise of populism. This problem has to be addressed.