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Developing-country progress has been rapid and all developing regions have benefited from recent growth trends, the compendium says, but there are significant differences: annual per capita GDP expansion between 2003 and 2007 was 6.2% in Asia, 3.7% in Latin American and the Caribbean, and 3.0% in Africa...
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These surpluses are no longer driven by shrinking imports, but by expanding exports, making economic growth more sustainable since it does not depend on volatile capital inflows.
? South-Eastern Asian economies have shown an impressive growth record since the 1970s. The countries in this subregion pursued active policies for encouraging capital accumulation and exports of manufactures, together with cautious policies regarding imports and capital movements...
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