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Along an actual (observed) Phillips curve,
Catching-up Growth
Economic strategy aimed at enabling developing countries to achieve rapid economic growth and reach the standards of more developed countries.
Brazil, Russia, India, China
Collectively known as BRIC, these countries were identified as fast-growing developing economies with significant influence on regional and global affairs.
Long-reaching Effects
Impacts or consequences of an event, decision, or policy that extend over a long period of time or into future generations.
Long-lasting Effects
Describes outcomes or consequences that persist over an extended period of time, often beyond the expected or typical duration.
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