Dragged Down By Debt, 23 Developed Countries Added Only 20% to World GDP Growth Since 2009
By Chantell (Nighswonger) Cieszkowski Assistant Account Executive – Allison+Partners Found in this week’s issue of The Economist is a chart of the world GDP which compares the contributions of the BRICS, developed countries, and developing countries against the overall world. Thanks largely to the BRICS (Brazil, Russia, India, China and South Africa) world GDP rose by 2.5% during the final quarter of 2012. The BRICS alone have been responsible for 55% of global growth since the end of 2009. Dragged down by debt and austerity, the 23 countries that make up the developed world contributed just 20% to that...
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