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March 06, 2007

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Nato

"At 7%, developing countries' economies will double in size every ten years. The rich get richer. The poor get richer, faster."

Of course, in absolute terms it will be quite a while before the nominal value of the gap stops growing and actually shrinks. This is a problem more for sociopolitical reasons than any other, but it's just a reminder than until we're really in the same ballpark, the well of economic optimism in developing countries will remain highly susceptible to poisoning by authoritarian populists.

A related issue is that improvements in information propagations regarding the relative wealth of others is likely outpace the shrinking of the disparity.

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