It is well passed time that the entire world economy not just levelled off, but actively cut back. Humanity has an acute shortage of fuel, and an acute excess of pollution.
I can see no valid moral argument that average wealth in Europe and the USA should be any greater than in China. Any excuse boils down to racism and “I matter more than you” or “we matter more than them”. All humanity are stuck in this predicament together. Either we share, or we’ll fight over our inequalities, making everything worse for everyone.
We are at a fork in the road; indeed, we have passed it. There seems a good chance that a far better world lies ahead, but the fork our leaders took around the turn of the millennium (9/11 in particular) leads over the edge of a cliff. The further we continue down this road the closer to disaster we get and the further we’ll have to retrace our steps, and our fuel supply is limited.