Asia and Tech Innovation Drive World's Fastest Growing Economies Over the Past 50 Years
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The world has seen incredible economic growth over the last 50 years. Asia and Africa have been the fastest growing regions, with China, India, South Africa, and Nigeria as major drivers.
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The US has been a leader in technological innovations with companies like Apple, Microsoft, and Alphabet shaping the tech landscape. These companies remain the most valuable in the world.
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To identify the fastest growing economies, the article analyzed countries' average real GDP growth rates from 1972-2022 using World Bank data. Countries with unavailable long-term data were excluded.
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The top 5 fastest growing economies over the 50 year period were Bhutan (6.83% avg GDP growth), South Korea (6.57%), Singapore (6.44%), Vietnam (6.33%), and Cabo Verde (6.10%).
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The article provides historical context about key economic developments over the past 50 years including the establishment of the US dollar as the global reserve currency in 1944.