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Economic Growth Overseas Post Dot-Bomb

Economic Growth Overseas Post Dot-Bomb bythan 30% against the dollar in the last 2
Erasmusyears.
As the United States leisurely grows itsBut economic growth outside the United States
economy at rates below 3%, the rest of thehas by no means been confined to Europe. One
world must drive the global engine ofof the most important sources of world
prosperity. The Post Dot-Bomb period, duringactivity has been in China. China's economy
which the United States has grown its owngrew at an annualized rate of more than 11%
markets uninterrupted by recession, has beenin the first quarter of 2007. China's recent
characterized by much higher rates of growthcommitment to recognize private property has
elsewhere.spawned a new generation of entrepreneurs.
One real estate investor in China has built a
The expansion of the European Union tofinancial empire worth $9 billion in just
include Eastern Europe has driven growth inover  a  decade.
the "Old Europe" economies of Britain and
France with an influx of cheap labor whileUltimately, the sources of economic growth
"New Europe" has witnessed explosive growth.worldwide are as varied as the peoples that
Countries like the Czech Republic haveexperience it. The great unifying hope for
successfully leveraged their highly educatedcontinued growth lies in the rapid adoption
populations into growth rates of median wagesof technology across the developing world.
in excess of 40%. The Latvian economy inThe United States' reliance on high
particular has witnessed wage growth intechnology and research and development has
excess  of  200%  during  this  period.given the rest of the world a tremendous
gift. Moving rapidly to install up-to-date
Export-oriented economies around the worldtechnology, China and Eastern Europe have
have grown more strongly than the Unitedbeen able to skip whole generations of
States as well. Germany, one of the world'stechnology. As Latin America and Africa work
great exporting powers, has turned itsup from even further behind, they ought to
domination of niche manufacturing marketsexperience enhanced growth rates as well.
like sensors for satellites. Germany'sEven in an environment of slow growth in the
success has manifested itself in globalUnited States, global prospects for continued
capital markets. The Euro has recovered moreeconomic growth are excellent.



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