Word: gdp
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...people. There are about 500,000 Cape Verdeans overseas, including a very large contingent in Boston. With the help of remittances sent back home from workers abroad, Cape Verde has doubled its per capita income since 1990—the sums amount to about 12 percent of GDP. In fact, Cape Verde migrants elect their own representatives to the National Assembly. Cape Verde has become a state beyond borders, and this is all the better for Cape Verdeans. If we start to increase human mobility rather than impede it, fighting poverty will become more than a zero-sum game...
...cannot be ruled out at this point." But other analysts, many of whom are China specialists, believe that a range of factors unique to the nation will not only likely preserve it from the worst of the global meltdown but keep its economy chugging along at a respectable 8% GDP growth...
...billion fiscal package announced by Beijing in mid-November, along with a host of other measures, will keep the Chinese economy's head well above water. As Beijing-based economist Arthur Kroeber points out, the same factors that driven China's extraordinary growth will provide a base of GDP growth that could amount to as much as 6 or 7% a year. "People who don't follow China on a regular basis can miss some of the underlying drivers," says Kroeber, who runs the consulting firm Dragonomics. First, Kroeber says, there's a large demographic dividend provided by the fact...
...haven't been through anything this bad in a while. The last time the economy shrank faster than 3% was in the first quarter of 1982, when GDP dropped at a 6.4% annual rate. It hasn't exceeded Goldman's worst-case forecast of -7.8% since the first quarter of 1958, when...
...While -10.4% sounds awful, nobody ever talks about the Great Depression of 1958. That's because the economy came roaring back later that year. This was in part a characteristic of the manufacturing-dominated economy of those days. GDP and employment would shrink precipitously one quarter as factories temporarily shut down to work off an inventory glut, then jump almost as much when they reopened. Things don't really work that way anymore - the jobs disappearing now aren't temporary layoffs, and the increased reliance on debt in the U.S. economy may bring self-reinforcing downward pressures that weren...