Since 2009, percentage growth in GDP has been the highest in Asia and Africa and the lowest in Europe, followed by North America. The mediocre performance on the latter two continents could have something to do with their advanced and open financial systems, which might have made it easier for the global financial crisis to spread through them.
Despite the theory of global economic convergence, few developing countries have actually been able to catch up to the income levels in the U.S. or other advanced economies. They remain trapped at a relatively low- or middle-income level.
A look at food prices in the two countries helps to explain the increasing correlation in their inflation patterns. One reason why their food prices are moving together is the increased trade between the countries.
In contrast with many people’s expectations, the Fed’s injection of $3.5 trillion into the economy caused no significant inflation or increases in the price level. There are many possible explanations in the mainstream; an alternative is a liquidity trap.
Central to Bitcoin is its independence from any institution or government, allowing anyone to engage in a direct transaction at a low cost. So, what exactly is it, and how does it work?
In many ways, the European debt crisis is reminiscent of Latin America's experience in the 1980s, characterized by a period of high growth interrupted by an external shock. But there are some notable differences.
