Late-2000s Financial Crisis - Emerging and Developing Economies Drive Global Economic Growth

Emerging and Developing Economies Drive Global Economic Growth

The financial crisis has caused the "emerging" and "developing" economies to replace "advanced" economies to lead global economic growth. Previously "advanced" economies accounted for only 29% of incremental global nominal GDP while emerging and developing economies accounted for 71% of incremental global nominal GDP from 2007 to 2013 according to International Monetary Fund. In this graph, the names of emergent economies are shown in boldface type, while the names of developed economies are in Roman (regular) type.

The Twenty Largest Economies By Incremental Nominal GDP From 2007 to 2013
Economy Nominal GDP (billions in USD)
(01) China 5,526.074
(02) United States 2,209.071
(03) Brazil 1,090.443
(04) Russia 913.864
(05) India 812.698
(06) Japan 793.550
(07) Australia 643.736
(08) Indonesia 514.208
(09) Canada 385.770
(10) Saudi Arabia 329.652
(11) Germany 269.376
(12) Mexico 239.934
(13) Argentina 238.627
(14) South Korea 209.347
(15) Turkey 202.692
(16) Switzerland 197.256
(17) Thailand 178.008
(18) Colombia 177.853
(19) France 153.159
(20) Iraq 144.459

The twenty largest economies contributing to global nominal GDP growth (2007–2013)

Read more about this topic:  Late-2000s Financial Crisis

Famous quotes containing the words economic growth, emerging, developing, drive, global, economic and/or growth:

    The reality is that zero defects in products plus zero pollution plus zero risk on the job is equivalent to maximum growth of government plus zero economic growth plus runaway inflation.
    Dixie Lee Ray (b. 1924)

    That which is given to see
    At any moment is the residue, shadowed
    In gold or emerging into the clear bluish haze
    Of uncertainty. We come back to ourselves
    Through the rubbish of cloud and tree-spattered pavement.
    These days stand like vapor under the trees.
    John Ashbery (b. 1927)

    Every society consists of men in the process of developing from children into parents. To assure continuity of tradition, society must early prepare for parenthood in its children; and it must take care of the unavoidable remnants of infantility in its adults. This is a large order, especially since a society needs many beings who can follow, a few who can lead, and some who can do both, alternately or in different areas of life.
    Erik H. Erikson (1904–1994)

    You may drive out nature with a pitchfork, yet she’ll be constantly running back.
    Horace [Quintus Horatius Flaccus] (65–8 B.C.)

    Ours is a brand—new world of allatonceness. “Time” has ceased, “space” has vanished. We now live in a global village ... a simultaneous happening.
    Marshall McLuhan (1911–1980)

    Motherhood is the second oldest profession in the world. It never questions age, height, religious preference, health, political affiliation, citizenship, morality, ethnic background, marital status, economic level, convenience, or previous experience.
    Erma Bombeck (20th century)

    The idealists dream and the dream is told, and the practical men listen and ponder and bring back the truth and apply it to human life, and progress and growth and higher human ideals come into being and so the world moves ever on.
    Anna Howard Shaw (1847–1919)