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