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Economic development in the past two hundred years has been primarily a story of progressive industrialisation spreading in waves first from Britain and Europe to North America and then to East Asia. This has gradually spread the benefits of better living standards and quality of life as evidenced by such indicators as life expectancy, which increased by two to four decades per person over that period. Also, the rate of economic development has accelerated as the process has spread from region to region. Whilst the UK spent almost 70 years to double its living standards during the period of its industrialization the United States achieved the same result in the 35-40 years after the Civil War. This suggested that the pace of the process in later developers, such as East Asian countries, will be faster as they learned how to avoid the worst mistakes from those developed countries. East Asia has...

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