Wednesday, June 8, 2016

A Paragraph to Ponder

From The Rise and Fall of Nations: Forces of Change in the Post-Crisis World by Ruchir Sharma:

"In the AC (after our 2008-2010 financial crisis), there are precious few nations that would qualify as rising stars by the standards of the BC (before crisis) era.  In 2007, the year before the global financial crisis hit, the number of economies growing faster than 7 percent reached a postwar peak at more than sixty, including China, India, and Russia.  Currently, there are only nine economies growing that fast, and only one of them is reasonably large: India.  The next largest is Ethiopia.  And India's growth rate is probably overstated, the result of dodgy new accounting methods used by the national statistics bureau."

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