, Columnist
Three Countries That Prospered in the ’10s Are in Trouble
The export-driven growth model of Germany, South Korea and Singapore is quickly coming undone.
Roadblock.
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Most developed countries grow at about the same rate, thanks to the broad march of technological progress and globalization. But in each decade, there are a few stars that outperform the rest. Typically, other rich nations look to these winners for clues about how to raise their own growth rates.
In the decade since the financial crisis, Germany, Singapore and South Korea stand out. All of these countries have outpaced the U.S. since 2009: