Walling Off Growth

Remember President Ronald Reagan's famous line delivered at the Brandenburg Gate in West Berlin in 1987: "Mr. Gorbachev, tear down this wall!"? Two years later, the Berlin Wall came tumbling down, signaling Communism's collapse. From that moment on, much of the former Soviet Union and most developing nations embraced freer markets. The fall of the wall marked the transition to a truly global economy. Globalization, driven by the rapid democratization of information, technology, and finance, is turning out to be a force hostile to privileged elites and closed-minded bureaucracies.

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