"DEVELOPING" COUNTRIES GROW FASTER THAN DEVELOPED COUNTRIES

http://www.gopusa.com/commentary/2011/09/22/barone-what-developing-countries-can-teach-the-u-s/?subscriber=1

GOP USA – 9/22/2011 – Michael Barone

Barone:  What “Developing” Countries Can Teach the U.S.

Today, we've been seeing enormous growth in what we have been accustomed to call "developing" countries. They have been growing nearly four times faster than "developed" countries, and they account for nearly half of total global investment and global economic growth today.

In effect, we are going through a period when China and India -- with one-third of the world's population -- are moving rapidly from (to use the old terminology) Third World to First World status. That's true as well of millions in developing countries in Latin America, Asia and even Africa.

Nothing like this enormous transformation has ever happened before, and nothing like it will ever happen again.

. . . policies that encourage self-advancing behavior and leave the way open for human creativity to flourish can accomplish more than simple transfers from the affluent to the impoverished

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