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Economic View – For Much of the World, a Good Financial Decade January 2, 2010

Posted by tkcollier in Economy & Business.
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Steady economic growth is an under-reported news story.

In a given year, an extra percentage point of economic growth may not seem to matter much. But, over time, the difference between annual growth of 1 percent and 2 percent determines whether you can double your standard of living every 35 years or every 70 years. At 5 percent annual economic growth, living standards double about every 14 years.

Putting aside the United States, which ranks third, the four most populous countries are China, India, Indonesia and Brazil,all had over 5% annual growth. Even Africa, as a whole grew at moer than 5% most years.

via Economic View – For Much of the World, a Good Financial Decade – NYTimes.com.

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