Tell me and I forget. Teach me and I remember. Involve me and I learn. Benjamin Franklin

Sunday, December 7, 2014

Who Defines the Next Economic Giants?

By JIM O’NEILL

The New York Times - DEC. 4, 2014

Turning Point: Investors retreat from emerging markets
What actually constitutes an economic giant?
We all know that the United States is one — its economy still makes up some 20 percent of global gross domestic product despite a modest relative decline in recent years. But who else? And does the word “giant” refer only to economic size, or should it also be reflective of a country’s wealth, its people’s prosperity and other measures of their lifestyle — perhaps even their freedoms?
It isn’t easy to make simple distinctions, other than for the United States, which on virtually all criteria is easily at the top of such a group, and looking into the future — at least the next 20 to 30 years — seems set to remain so.

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