HEY, IT’S GOOD NEWS WEEK ACCORDING TO NEWSWEEK INTERNATIONAL
January 4th 2008 20:01
They say good news doesn’t sell – tell that to Newsweek which, with its international edition, features a good news special.
The cover, which portrays a group of HAPPY smiling neat Bangladeshi school kids says, in large bold letters, “ Though the Global Economy is Gripped by Fear …The Future Looks Very Bright.”
Talk about upbeat feelgood!
The good news copy that goes with the main story starts:
It seems things are as bad as they've been in recent memory. Except that if you look beyond temporal market fluctuations to how the real global economy is doing, things have never been better.
Consider that between 1980 and 2000, the number of countries growing at 5 percent or more hovered around 50. In 2006, 104 nations grew at that rate. When asked to think of a few countries besides China and India that have shown strong growth, World Bank economist Andrew Burns replies: "It's hard to think of somebody who hasn't."
In fact, this year the economies of only three countries—Zimbabwe, Fiji and Tonga—are contracting. Two are highly isolated archipelagoes and the former is a hugely dysfunctional dictatorship. Harvard's Ken Rogoff, a former chief economist at the IMF, sums it up simply: "We're in a boom."
- From MediaBlab
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