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...astute foreign investors" now realize that India's rise is "a unique opportunity." He's right, of course. On a recent visit to Bombay, I quickly found myself as intoxicated as everyone around me. It's hard not to be dazzled: the economy is growing at 6-7%, per-capita income is rising 11% a year, and Indian companies are more competitive than ever before. Yet this flood of foreign money into Indian stocks has me spooked...

Author: /time Magazine | Title: High on India | 3/21/2005 | See Source »

...sizable trade surpluses. Some big consumer-goods firms, including the Swiss food giant Nestlé, already have plants in the country and are eager to build up their market share. But compared to its neighbors, Ukraine remains relatively poor and deprived of investment. Measured by per-capita gross domestic product, Ukraine's 48 million inhabitants have just one-fifth the wealth of Poland's 38 million. And because Ukraine was late in starting a large-scale privatization program, and is nowhere near completing it, the amount of foreign direct investment into the country - about $1.4 billion last year - is just...

Author: /time Magazine | Title: Forging Ahead | 3/6/2005 | See Source »

...Europe as it was in India or China. Your great-great-grandparents were, with very few exceptions, poor and living on a farm. The onset of the Industrial Revolution, supported by a rise in agricultural productivity, unleashed an explosive period of modern economic growth. Both population and per-capita income came unstuck, rising at rates never before imagined. The global population rose more than sixfold in just two centuries, while the world's average per-capita income rose even faster, increasing around ninefold between 1820 and 2000. In today's rich countries, the economic growth was even more astounding...

Author: /time Magazine | Title: The End of Poverty | 3/6/2005 | See Source »

STONECIPHER: We've got great products. But we absolutely had too much success. I had a customer tell me, "Your salesman treated us like a Third World country, and we have a higher per capita income than the U.S., and I don't like that." I don't blame him. We're changing that...

Author: /time Magazine | Title: Aviation: Flight Plan | 2/6/2005 | See Source »

...strike after accepting a government offer to replace their aging Toyota Corollas with a fleet of new four-wheel-drive vehicles. The judges, who complained that their old cars needed constant maintenance, had originally demanded Mercedes or BMWs. Their new Nissan Terranos will cost about $60,000 apiece; per capita GDP is around...

Author: /time Magazine | Title: Worldwatch | 1/30/2005 | See Source »

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