September 30, 2008

Shift in economic power globally

In this Credit Suisse emagazine article by Javier Santoso, Director and Chief Economist of the OECD Development Centre, I read this:
"OECD countries, which five decades ago accounted for 75 percent of world GDP, today account for less than 55 percent. The US stock market accounts for 35 percent, and falling, of world market capitalization, compared to 50 percent just 10 years ago."
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