After 2000, globalization and surging commodity prices astronomically boosted economic growth among nations with emerging economies. Over the next decade their share of the global economy nearly doubled, growing to 35 percent. By 2007, 107 of the 110 developing economies featured in the Penn World Table were catching up to the United States in average income, helping millions to escape poverty. The celebratory mood was captured in a popular phrase: “The rise of the rest.”
Then came the crisis of 2008. Trade and capital flows plunged and commodity prices tanked, while slowing global population growth started to shrink work forces. Instead of rising again, developing economies …
Related posts:
14th Round Of India-China Military Talks Fails On Outcome But Scores On Cordiality
CBI Arrests DSIIDC Sr Official, Private Person For Accepting Bribe Of Rs 1.70 Lakh
SBI Successfully Prices Its First International USD Denominated Public Bond For $300 Mn
Shipping congestion is growing at world’s biggest port
