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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.04

+0.4%

Nov 11 4:00 PM EST

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To: Hawkmoon who wrote (52080)	4/29/2000 9:51:00 PM
From: goldsnow	Read Replies (2) of 116753

China fell into decline just as the Industrial Revolution was beginning, setting Europe and one of its derivate societies, the United States, on the road to global domination. But Asia still accounted for the bulk of the world economy as recently as 1820, according to the Asian Development Bank. The region reached its low point around World War II. But two critical changes reversed the course of history. First, the war and its aftermath freed the colonised Asian countries from the grip of the Europeans. And second, Japan invented a formula for economic catch-up with the rich white powers. Almost suddenly, the countries of Asia had political independence and a road map to economic prosperity. It took the US more than a century to double its income per head. It took Japan 30 years. Its first imitator, South Korea, achieved this in 11 years. China later did it in nine. afr.com.au

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