The global economy has been growing at an average rate of almost 5% since 2001, and the short-term prospects point to a continuing high rate of growth. The world has not seen such a high long-term rate of growth since the 1950s and 1960s.
Moreover, whereas in the past only a small proportion of the world population (1/4) were reaping the dividends of growth, nowadays nations accounting for almost ¾ of the word population are benefiting from rising standards of living, though to varying degrees. Are these revolutionary developments and do they signal a new area of the world history? I believe the answer is yes and yes.