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

Question

Business

Kendrick Ho

4 February, 17:23

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

+3

Answers (1)

Know the Answer?

Kyan · 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.