Overall, their 2004 public debt situation improved owing to strong economic growth and the positive impact of regional and global interest rates.

Is this the end of the road for Dubai s epic growth? I doubt it.

Seduced by China s spectacular growth, the region shifted from US to China centric export growth.

Indeed, recent growth in Africa appears to have been fueled by increases in oil exports and high oil prices.

So, too, the renminbi s stability has helped the region maintain strong growth, from which the world as a whole benefits.

Led by strong Chinese growth, emerging markets stabilized.

The strong growth of the global economy in 2003 and 2004 was both reflected in and driven by strong growth in world trade.

Mexico needs to grow at roughly twice the rate that it did under Fox (a meager 2 per year).

When combined with China s rapid growth in manufacturing capacity, this pattern promises to create a new round of global imbalances.

Indeed, Chinese economic growth must be acknowledged as one of history s great achievements in poverty reduction.

This may be necessary to restore robust growth, but it is not sufficient.

In 2004, for example, Chad s 39.4 annual growth rate contrasted sharply with Zimbabwe s 6.8 economic contraction.

Following strong performance in 2010, Germany s GDP exceeded pre crisis levels by early 2011, a somewhat better achievement than that of the US.

But China s soaring growth, seen in contrast with stagnation in Latin America s economies, has awakened governments and businessmen across the region.

This contributed to Hamas s electoral victory.

We welcome its recent success in this area.

For a few years, the momentum created by previous reforms, together with strong global growth, carried India forward.

Russia can then forget about attaining the fast, sustainable growth that China has achieved.

Lack of robust credit growth will hamper private consumption and investment spending.

Even Germany s temporary success is riddled with caveats.

Fatah s ideology and practice laid the basis for Hamas to advance.

Armenia has had strong economic growth since 1995, building on the turnaround that began the previous year, and inflation has been negligible for the past several years.

What s Stopping Robust Recovery?

Recent growth has been stimulated by strong activity in the construction sector and an improvement in tourism.

Thatcherism s second success was to weaken trade unions.

China remains obsessed with investing construction of factories and infrastructure accounted for 41 of GDP and around half of economic growth in 2005.

For example, South Korea s spectacular economic growth in recent decades owes much, according to Friedman, to the country s ethnic homogeneity, which dampens resentment of others relative progress. By contrast, economic development in Sri Lanka, with a standard of living 40 years ago that was similar to that of Korea, was stymied by its Tamil minority s perception that their opportunities and advancement were blocked by the Sinhalese majority.

Resumption of robust world economic growth is the basis for delaying the implementation of the Basel III bank rules.

On the other hand, they are unlikely to benefit from the subsequent robust growth that most European transition countries experienced.

And their progress has not been based solely on natural resources.

Otherwise, the stability that the UN has brought to Kosovo, and the region, will not last.

Romania s progress is confirmed in a report released earlier this month showing that citizens access to government information in Eastern Europe is now equal to that in established democracies.

Ms. Khan commended Ireland for its excellent report, and for the level of prosperity it had achieved.

We congratulate the Court on the progress that has been made to date as well as on the establishment of a Trust Fund for victims.

From the late 1930 s onward, however, this argument faded as the market economies of the West grew rapidly in the post World War II period and income distributions became more equal.

Compare the 17 profit margin for the top ten American drug companies in 2002 with the median of only 3.1 for all of America s Fortune 500 industries that year.

This recent growth has been fueled by a strong boom in commodity prices, including not only energy inputs such as oil, gas and coal, but also metals, minerals, and agricultural products.

The trick for the Chinese government will be to quell inflation in a way that does not compromise its long term goal of continued strong economic growth.

This effort culminated in the Single European Act of 1986, which laid the foundation for the virtuous circle of strong growth and lower unemployment in the 1990 s.

Thus, India s high growth rates will have to remain dependent on strong domestic demand.

A failure of either Europe or the US to return to robust growth would be bad for the global economy.

The highest growth achieved in the Chavez years is lower than Venezuela s average during the second half of the 1990's, when oil was the exclusive domain of the private sector.

After several years of disappointing performance, the authorities are shifting to policies aimed at boosting the annual growth rate closer to the roughly 9 level that India achieved from 2004 to 2008.

India had a couple of years of strong growth recently (11.2 in 2010 and 7.7 in 2011) but slowed to 4 in 2012.

The greatest success of Europe s external policy has been EU enlargement.