The best news of 2012?

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Here is a question to put to you over Xmas time, the season of joy and hope: what has been the best news for you this year in the sense of the most uplifting development in Australia or the world?

For me, it has been the continued economic growth in India, China, and much of Latin America. It has been another fantastic year on that front with growth rates expected to be around 7-8% in the South-East Asian corner for many countries (official statistics take a while). It means over half of humanity is continuing to rapidly climb out of poverty, low life expectancy, illiteracy, etc. Great news indeed.

Please add your ‘best news’ observation in the comment thread and I will compile a synopsis of them after the break.

4 Responses to "The best news of 2012?"
  1. see http://www.fiap.cl/prontus_fiap/site/artic/20110613/asocfile/20110613121920/edward_prescott.pdf for a rather cheerful presentation by ed prescott.
    • Most of world economies doing well – exceptions are: U.S. and Southern Europe
    • Asia is catching up rapidly
    • South American Pacific countries doing well and have narrowed the gap with the leaders
    • Even Africa has begun to catch up
    • Financial crises are symptom – not cause – of current depressed states of U.S. and E.U

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