The pace of global growth increased during the second quarter of 2013—only the third quarterly acceleration in three years. Buoyed by increased output in the rich world, global output was 2.4% higher compared with the second quarter of 2012.
But the world is dangerously dependent on
, which continues to grow at a
Since the beginning of 2010 it alone has contributed over one-third of global GDP growth, with another 40% coming from the rest of the emerging world. Weighed down by debt since the financial crisis, the rich world’s growth has been sclerotic. Excluding
America, it has
provided just 10% of global growth since 2010; has
contributed another 12.5%. America
Source: The Economist
Remember the 60 minutes profile of
Australian reporter who "discovered"
's ghost cities two years ago
returns to the scene: China
Click the link to see an update: BusinessInsider