http://www.news.lk/home/18327-sri-lanka-among-worlds-developing-economies

Sri Lanka among world’s developing economies

The 15th annual report of US Merril Lynch Bank has listed Sri Lanka as one of the ten countries in the world with rapidly developing economies. Out of these ten countries, six of them are in Asia.
Hong Kong has been listed in the first place followed by Vietnam. The other countries in the region listed are Sri Lanka, Indonesia, Singapore and India. The report says that there is an ascendancy of the rich in this region, and they have achieved wealth similar to those in the Northern American states.
The report’s findings illustrate how Asia’s economies are growing much more quickly than developed countries and, in the process, minting scores of new millionaires and billionaires. Asia’s growth has been powered by China and India, whose economies grew 9 percent to 10 percent last year while European and North American growth was in single digit levels.
It was in 2010 that for the first time Asia has overtaken Europe in absolute numbers of wealthy people. It has been for the second year that Asia’s combined wealth had been bigger than that of Europe’s. (niz)