HOW THE CONTOURS OF THE GLOBAL ECONOMY ARE CHANGING
The collective economic dominance of the United States, Europe and Japan – the so-called triad economies – is giving way to a greater dispersal of global economic power as developing economies contribute an ever-increasing share of the world’s output, trade and investment.
08 July 2009
The raw figures tell their own story: today the developing world accounts for 49% of global gross domestic product (GDP), up from 39% in 1990, and is likely to surpass the developed world within the next two decades.
The emergence of a world characterised by multiple centres of economic power and activity – a concept we term the “multi-polar world” – is being driven by three powerful, mutually-reinforcing trends:
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