
International Issues | |
Other Countries Have Witnessed Longer Expansions |
Americans have a right to feel jubilant over their nine-year economic boom. But they might keep in mind that they didn't invent long-running prosperity. Other countries have experienced longer periods of expansion, and ones more robust than ours. Japan and South Korea, for example, have at different times racked up decade-plus runs of growth as high as 10 percent a year or more.
Last year, Colombia's economy underwent its first year of negative growth since 1931. While the country has free-market economic policies, analysts cite another reason for the strong economy over the decades: cocaine. Source: News Roundup, "In Asia, Europe, Latin America, Duration of Expansions Put Latest U.S. Boom in the Shade," Wall Street Journal, February 1, 2000. For more on International Economic Growth http://www.ncpa.org/pi/internat/intdex3.html |
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