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Looking at the likely pattern of flattening growth rates, I came up with an estimate of what participation rates will look like worldwide over the next 30 years or so. Broadly speaking, I am bullish about overall growth rates – we aren’t going to see a doubling every 15 years as we did around the turn of the century, but there is every chance that we will see a doubling over thirty years, mainly because there is still quite a ways to go to hit North-American style participation rates in China, and the two remaining sources of population growth – India and Africa – are currently at the very low end of participation rates.
