GDP growth Hares and tortoises

[StingRoy]

GDP growth - Hares and tortoises

Which countries have had most, and least, GDP growth per person since 2001?

FOR all its faults, GDP per person is still the measure that gives the best indicator of economic progress or lack thereof. The countries where GDP per head grew fastest between 2001 and 2010—Equatorial Guinea, Azerbaijan and Turkmenistan—are all rich in natural resources, and were beneficiaries of the past decade’s boom in commodity prices. China is an exception to this rule, which makes its growth even more impressive. And while it usually helps to start relatively poor, a bad start does not necessarily result in success later on. Haiti and Zimbabwe have both explored how much ruin there is in a nation over the past decade and show little sign of improving. They are two of only 15 countries that have seen negative growth since 2001. Slow population growth also helps: although America's economy has grown considerably faster than Japan's since 2001, Japan’s population has shrunk while America's has risen. This means that income per head in Japan has grown almost as rapidly as in America over this period.

---------------------------------------------------

Africa and Asia seems to have done reasonably well in the past decade. Precursor of things to come in the next decade.

 

[StingRoy]

One good observation in the comments section:

The same countries that are showing rapid GDP growth over the past decade are the same countries that have manageable sovereign debt issues as well. It is becoming increasingly apparent that the developed nations of the world are the ones responsible for amassing unsustainable levels of sovereign debt. This is in complete contrast to the 1970s and 1980s when the so-called "third world nations" were responsible for debt default after debt default.

Here is a summary of the sovereign debt of the world: