BEVERLY HILLS, CA-”We're experiencing a robust, global economic boom,” said economist David Hale, at the 17th Annual Pension Real Estate Association conference, which concluded yesterday at the Beverly Hilton Hotel. Hale, who is founding chairman of Hale Advisers and was recently appointed to the Competitive Markets Advisory Council of the Chicago Mercantile Exchange, said this current boom is much different than the one that took place during the 1960s. “Two-thirds of mankind were not participating then,” he said, citing the Russian communist block, China and India. “This is the first time to have the whole of mankind participating.”

Hale noted that only four countries out of 120 have a current, negative growth rate, including Somalia and Zimbabwe, who are experiencing political upheaval. China, with 12% GDP growth leads the way, along with India (10%) and Russia (7%).

Hale added that there is strong growth around the globe, even in Western European countries and Japan, where they have shrinking populations. Those countries continue to chug along with roughly 2.5% growth.