If it could increase its growth rates slightly, a country with low income would catch up with rich countries in about ten years.

Question

Cade Irwin

Business

6 April, 13:36

If it could increase its growth rates slightly, a country with low income would catch up with rich countries in about ten years.

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Answers (1)

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Heather Marquez · Answer 1

That statement is false.

In order to catch up with rich countries, a country with low income probably need to maintain more than 100% growth rate in about 10 years.

Because if the country only increases its growth rates slightly, the rich countries may grow even further during that period.