I already knew that the IMF had estimated a 4.5% growth in world output for next year: the highest in a couple of decades. But I just ran across the following graph from the IMF October economic outlook and it really stunned me. If a good image is worth a thousand words, this one is worth a thousand articles and books on the decline of the West (U.S., Europe and Japan) and the rise of the developing world.
![](http://2.bp.blogspot.com/_1WC2hgKa4SA/TN1hi3FLTSI/AAAAAAAAABA/iLSi4JSj6nQ/s400/IMF.jpg)