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I wish we could say the same about the rest of the developing countries if that was the case lol.
I am far from being an optimistic person, but good news is good news. I am guessing those who don't seem to like the news are southern Europeans themselves who got so used to living in misery. Just take the good news and let the northern Europeans take their turn in misery!
What do you mean? Of course we can. There was just a story about Poland the other day. About how their GDP has risen remarkably since they've joined the European Union. Rapid Rises easier when you're already starting low. I mean that's just common sense for anything really.
And why is it that starting from low means there is rapid growth? Rapid GDP growth can still happen in rich countries.
It can of course. But it's easier in countries that already start low. It doesn't mean it's guaranteed if that's what you're thinking. I mean it's just like any other change in rate. With GDP in particular at a certain point it's not about rapid Rising it's about steady growth. A rapid increase usually indicates that something was wrong before. That there was a lack of something. So a relatively rapid increase is caused by stabilizing of credit access to foreign loans, foreign markets, other sources of goods and imports, and lots of other things. Whereas a developed country with high GDP already had access to those so they can't rapidly change based upon it.