January 26, 2005


Developing World Economy Grows at Fastest Rate in Quarter Century (Peter Heinlein, 25 January 2005, VOA News)

The United Nations has issued an upbeat assessment of the world economy, noting that growth in developing countries is at its fastest pace in more than two decades. The positive outlook is tempered by concerns about global trade imbalances.

The world's economy has considerable momentum at the beginning of 2005, and short-term prospects remain positive. That is the main conclusion of the annual U.N. economic report.

The 125-page report notes that the cyclical recovery of the world economy is reaching its peak. Worldwide economic growth increased by four percent in 2004, and, says the U.N., is likely to grow almost as fast in the next 12 months.

The top U.N. economist, former Colombian finance minister Jose Antonio Ocampo says every region in the developing world is showing rapid economic growth.

Liberalization in the Middle East and another round of world trade agreements will only fuel that growth.

Posted by Orrin Judd at January 26, 2005 5:47 PM
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