College of Political Knowledge

Subject:  Economics Growth/Politics

Yes, there is some good news with the US economy…..regardless of what may happen in the future, it is growing……

At first glance, the 3.2 percent growth rate for gross domestic product looks light, considering economists polled by Reuters expected a 3.5 percent pace.

However, the figures show consumer spending growing at the fastest rate in four years and international trade providing a surprisingly large lift. Both show an economy that is pulling more of its own weight, an important development as government stimulus spending fades.

As they have said….not as good as expected but better than it could have been……but there is a few questions that I would like answers to about the world recession…..first, did the recession really effect the entire globe?  If it did…then explain this………

Growth in Sub Saharan Africa rebounded strongly in 2010. GDP in Sub-Saharan Africa is estimated to have expanded by 4.7 percent in 2010, up from the 1.3 percent growth recorded in 2009 and just shy of its pre-crisis average growth of 5%. However, the slower growth rate in the region’s largest economy South Africa (2.7 percent) dragged overall growth in Sub Saharan Africa for 2010. Indeed, excluding South Africa, growth in Sub-Saharan Africa is estimated at 5.8 percent in 2010, up from 3.8 percent in 2009. Growth in the region was supported by both external and domestic developments.

I would have expected the Third World (to use an archaic term) to lag further behind the so called Industrialized world……And I realize that you can have growth and still have a crappy economy……but……Please one of you that are an expert in international economics explain this to me and my readers…….Why is their growth so much better than ours?  What are they doing right?  Or what are we doing wrong?