The New World Order While gross domestic product growth is picking up a bit in emerging market economies, it is picking up even more in the advanced economies.

Real GDP in the emerging market economies is forecasted to grow at 5.4% in 2015 up from 4.9%

in 2012. In the advanced economies, real GDP is expected to grow at 2.3% in 2015 up from 1.4%

in 2012. The difference in growth rates means that the large spread between emerging market economies and advanced economies of the past 40 years will continue for many more years.

Source: World Economic Outlook, January, 2014 Do growth rates over the past few decades indicate that gaps in real GDP per person around the world are shrinking, growing, or staying the same? Explain.