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Up, Up and Away ...(Economics)
Byline: Rana Foroohar; With Andrew Bast in New York
Half the world is living with double-digit inflation, as boom gives way to bust.
Globalization used to be all about making things cheaper. It's hard to think of much that didn't go down in price over the past few decades--cars, electronics, consumer goods of all kinds, services like banking and telecommunications--as the global movement of goods, labor and capital played out around the world, enriching developed countries and emerging markets alike. In fact, between 2003 and 2007, world GDP grew 5 percent per year--faster than it ever has--even as inflation remained under 4 percent. Freer trade, cheaper ...
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Source: HighBeam Research, Up, Up and Away ...(Economics)