According to IMF calculations, emerging economies will account for 100 per cent of the growth in world output in the three-year period 2008-10. And even assuming that the US and European economies return to their long-term growth paths from 2011 onwards, the IMF expects emerging markets to account for 70 per cent of global growth for the following five years.
– Anatole Kaletsky, writing in yesterday’s Times.
From Davos to Seattle
“Before you’ve finished your breakfast this morning, you’ll have relied on half the world.” — Martin Luther King, Jr.
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