Why China grows so fast

And what we can learn from Botswana which is also among the world's 11 best economies of past quarter century.

Sustained high growth in developing economies is a recent, post-World War II phenomenon. Using GDP figures, I take "high" to mean above 7% and "sustained" to mean over 25 years or more. These cutoffs are arbitrary, but a similar picture emerges with variants. Growth at these rates produces very substantial changes in incomes and wealth: Income doubles every decade at 7%.

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