The Rise Of The Rest
A Marketplace broadcast looks at the subject of economic stability and the impact of the fast rising economies of developing countries. In the broadcast, Fareed Zakaria, editor of Newsweek International, says the growth of developing economies is a major factor in our current economic crisis. We know how to handle a recession, he says, but the worldwide growth we’re now seeing isn’t something we’ve dealt with before:
Oil prices are high not because producers are choking off supply, but because consumers — in the United States, Europe, China, India — are increasing demand.