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Frank McGarvey has been the most vocal, a string of explosions regarding his hatred – no, really – for Rapid emerging recently.
DANI RODRIK has written an interesting column arguing that rapid emerging market catch-up growth "will prove the exception rather than the rule in the decades ahead".
Not even close.So to the extent that commodity prices have leveled off in recent months, I'm tempted to view the development as evidence of the commodity constraint on growth in a world of rapid emerging market expansion.
Supply is more elastic for some commodities than others.In last week's Fed press conferences, Ben Bernanke argued that most of the recent increase in headline inflation has been due to rising energy costs, and most of that is atttributable to rapid emerging market growth.
Even in a rapid emerging clinical application, the role of F-FDG PET in PCNSL is not fully defined and reviewed systemically.
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Now rapid emerging-market growth is taken for granted.
India, rather than China, may henceforth be the symbol of rapid emerging-market growth.
Rapid emerging-market growth is placing pressure on the world's notoriously inefficient food markets, for example.
In the very recent past rapid emerging-market catch-up pushed the global rate of per capita growth above 2%, but that seems unlikely to be sustained.
Those gaps are shrinking, and not simply as a result of rapid emerging-market growth.Between 2000 and 2007 America's McWage rose by 13% while the Big Mac price jumped by 21%, resulting in a net tumble in the BMPH real wage of 7% (see chart, right panel).
We are encouraged also by the rapid changes emerging in the last few years in the research literature.
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