Switzerland: An Example to Follow
Written By: Daniel Zurbr | Posted: Saturday, July 9th, 2011
The world economy is in a very fragile state, despite the fact that world gross domestic product is growing at a rate of about 4.3 percent this year. Most of the growth comes from emerging markets like China, Brazil and India.
While these emerging nations have a lot of economic potential for the coming decades, most of them will have to deal with their own specific problems in the years ahead. What differentiates these nations from the West is they typically have much lower levels of debt; most of them have accumulated large savings surpluses. This is in sharp contrast to the West, especially Europe and the United States, where governments have accumulated large deficits by chronic overspending on social security, all sorts of subsidies and/or military and defense costs.
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