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Regarding the concept of modern economic growth, the textbook indicates that countries that began modern economic growth more recently are not doomed to be permanently
Regarding the concept of modern economic growth, the textbook indicates that countries that began modern economic growth more recently are not doomed to be permanently poorer than the countries that began modern economic growth earlier because they can catch-up by adopting existing technologies. While such countries can experience very rapid catch-up growth, in reality, are those countries truly ever going to reach the same standards of livings as the leader countries such as the U.S. and Japan?
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