Big Data

Developing Countries Poised For Economic Supremacy, Expert Says

Date Added: Mar 2011
Format: PDF

Developing countries like Brazil and South Korea - which were economic basket cases as recently as the late 1990s - will lead the world in growth for the next several years. The traditional economic powers - Western Europe, Japan, the United States - are in for stagnation or worse. Western Europe, Japan and the United States, which together account for almost 70 percent of the world's Gross Domestic Product (GDP), are in for slow growth as they continue to recover from what the author called the "Largest credit bubble in history," from 2003-07, and subsequent economic crisis.