Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (25291)	11/11/2002 8:49:29 AM
From: Moominoid	Read Replies (1) of 74559

There has been a continuing leveling out in fact Maurice with only trade the leveling out is slow as the savings to build up productive capacity have to be generated in each economy. Even trade was restricted earlier in the 20th century (but less in the 19th century). Capital flows speed things up and labor flows even more. Capital should flow to the developing world and labor towards the developed world. Of course immigration is still pretty restricted and investing in many countries is very dodgy and hard without the infrastructure in place. Even so there has been an impressive convergence in the second half of the 20th century of East Asian and even European economies with the technology leader the United States. Even Latin America has done reasonably well. Now even India is getting in on the act. The Arabs did for a while but seemed to get disillusioned... David

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