The Contours of World Development

The Contours of World Development

Over the past millennium, world population rose 22–fold. Per capita income increased 13–fold, world GDP nearly 300–fold. This contrasts sharply with the preceding millennium, when world population grew by only a sixth, and there was no advance in per capita income.

From the year 1000 to 1820 the advance in per capita income was a slow crawl — the world average rose about 50 per cent. Most of the growth went to accommodate a fourfold increase in population.

Since 1820, world development has been much more dynamic. Per capita income rose more than eightfold, population more than fivefold.

Per capita income growth is not the only indicator of welfare. Over the long run, there has been a dramatic increase in life expectation. In the year 1000, the average infant could expect to live about 24 years. A third would die in the first year of life, hunger and epidemic disease would ravage the survivors. There was an almost imperceptible rise up to 1820, mainly in Western Europe. Most of the improvement has occurred since then. Now the average infant can expect to survive 66 years.

The growth process was uneven in space as well as time. The rise in life expectation and income has been most rapid in Western Europe, North America, Australasia and Japan. By 1820, this group had forged ahead to an income level twice that in the rest of the world. By 1998, the gap was 7:1. Between the United States and Africa the gap is now 20:1. This gap is still widening. Divergence is dominant but not inexorable. In the past half century, resurgent Asian countries have demonstrated that an important degree of catch–up is feasible. Nevertheless world economic growth has slowed substantially since 1973, and the Asian advance has been offset by stagnation or retrogression elsewhere.

See also

See also

• Common Wealth: Economics for a Crowded Planet (book)
• Globality
• Globalization
• Trade route
• World Trade Report
• The World Economy: Historical Statistics

Regional economies:

• Economy of Africa
• Economy of Asia
• Economy of Europe
• Economy of North America
• Economy of Oceania
• Economy of South America

Events:

• 2007–2008 world food price crisis
• Late 2000s recession
• Oil price increases since 2003

Lists:

• List of countries by GDP sector composition
• List of world's largest economies (nominal) - based on current currency market exchange rates
• List of world's largest economies (PPP) - based on purchasing power parity
• Historical list of world's largest economies (nominal) - for the years between 1998 and 2003
• Historical list of world's largest economies (PPP) - for the years between 1 and 1998

Transport

Transport

Transportation infrastructure worldwide includes:

• Airports
  • Total: 49,973 (2004)
• Roadways (in kilometres)
  • Total: 32,345,165 km
  • Paved: 19,403,061 km
  • Unpaved: 12,942,104 km (2002)
• Railways
  • Total: 1,122,650 km includes about 190,000 to 195,000 km of electrified routes of which 147,760 km are in Europe, 24,509 km in theFar East, 11,050 km in Africa, 4,223 km in South America, and 4,160 km in North America.

[edit]Military

• Military expenditures - dollar figure: aggregate real expenditure on arms worldwide in 1999 remained at approximately the 1998 level, about $750 billion, about 1/2 of which was the United States (1999)
• Military expenditures - percent of GDP: roughly 2% of gross world product (1999).

Economy

Economy

• GDP (GWP) (gross world product): (purchasing power parity exchange rates) - $59.38 trillion （2005 est.), $51.48 trillion (2004), $23 trillion (2002)
• GDP (GWP) (gross world product):’’’^[2] (market exchange rates) - $60.69 trillion (2008)
• GDP - real growth rate: 3.2% (2008), 3.1% p.a. (2000-07), 2.4% p.a. (1990-99), 3.1% p.a. (1980-89)
• GDP - per capita: purchasing power parity - $9,300 (2005 est.), $8,200 (92) (2003), $7,900 (2002)
• GDP - composition by sector: agriculture: 4%; industry: 32%; services: 64% (2004 est.)
• Inflation rate (consumer prices): developed countries 1% to 4% typically; developing countries 5% to 60% typically; national inflation rates vary widely in individual cases, from declining prices in Japan to hyperinflation in several Third World countries (2003)
• Derivatives outstanding notional amount: $273 trillion (end of June 2004), $84 trillion (end-June 1998) ([4])
• Global debt issuance: $5.187 trillion (2004), $4.938 trillion (2003), $3.938 trillion (2002) (Thomson Financial League Tables)
• Global equity issuance: $505 billion (2004), $388 billion (2003), $319 billion (2002) (Thomson Financial League Tables)

[edit]Employment

World GDP per capita between 1500-2003

GDP increase, 1990-1998 and 1990-2006, in major countries.

• Unemployment rate: 8.7% (2009 est.). 30% (2007 est.) combined unemployment and underemployment in many non-industrialized countries; developed countries typically 4%-12% unemployment.

[edit]Industries

• Industrial production growth rate: 3% (2002 est.)

[edit]Energy

• Yearly electricity - production: 15,850,000 GWh (2003 est.), 14,850,000 GWh (2001 est.)
• Yearly electricity - consumption: 14,280,000 GWh (2003 est.), 13,930,000 GWh (2001 est.)
• Oil - production: 79,650,000 bbl/d (12,663,000 m³/d) (2003 est.), 75,460,000 barrels per day (11,997,000 m³/d) (2001)
• Oil - consumption: 80,100,000 bbl/d (12,730,000 m³/d) (2003 est.), 76,210,000 barrels per day (12,116,000 m³/d) (2001)
• Oil - proved reserves: 1.025 trillion barrel (163 km³) (2001 est.)
• Natural gas - production: 2,569 km³ (2001 est.)
• Natural gas - consumption: 2,556 km³ (2001 est.)
• Natural gas - proved reserves: 161,200 km³ (1 January 2002)

[edit]Cross-border

• Yearly exports: $12.4 trillion (2009 est.)
• Exports - commodities: the whole range of industrial and agricultural goods and services
• Exports - partners: US 12.7%, Germany 7.1%, China 6.2%, France 4.4%, Japan 4.2%, UK 4.1% (2008)
• Yearly imports: $12.29 trillion (2009 est.)
• Imports - commodities: the whole range of industrial and agricultural goods and services
• Imports - partners: China 10.3%, Germany 8.6%, US 8.1%, Japan 5% (2008)
• Debt - external: $56.9 trillion (31 December 2009 est.)

[edit]Gift economy

• Yearly economic aid - recipient: Official Development Assistance (ODA) $50 billion

[edit]Communications

Telephones - main lines in use: 843,923,500 (2007)
4,263,367,600 (2008)

• Telephones - mobile cellular: 3,300,000,000 (Nov. 2007)^[3]
• Internet Service Providers (ISPs): 10,350 (2000 est.)
• Internet users: 1,311,050,595 (January 18, 2008 [5] est.), 1,091,730,861 (December 30, 2006 [6] est.), 604,111,719 (2002 est.)

Economy – overview

Economy – overview

[edit]2006 - USA leads expansion

The economic output of 178 markets expanded by $3.9 trillion during 2006. USA accounted for one-fifth while China accounted for one-ninth of the global output expansion. The economic output of 5 markets contracted by $193 billion. Japan accounted for almost all the global output contraction.

[edit]2007 - China leads expansion

The economic output of 182 markets expanded by $6.3 trillion during 2007. China accounted for one-eighth while the USA accounted for one-tenth of the global output expansion.

[edit]2008 - credit crisis begins

The economic output of 171 markets expanded by $5.8 trillion during 2008. China accounted for one-sixth of the global output expansion. The economic output of 11 markets contracted by $267 billion during 2008. UK accounted for one-half while South Korea accounted for two-fifth of the global output contraction. Though the crisis first affected most countries in 2008, it was not yet deep enough to reverse growth.

[edit]2009 - credit crisis spreads

The economic output of 132 markets contracted by $4.1 trillion during 2009. However, UK was the largest victim accounting for one-eighth while Russia accounted for one-tenth of the global output contraction. The economic output of 50 markets expanded by $781 billion during 2009. China accounted for three-fifth while Japan accounted for one-fourth of the global output expansion.

[edit]2010 - IMF forecasts recovery

The economic output of 138 markets is expected to expand by $4.6 trillion during 2010. China is expected to account for one-sixth and the USA is expected to account for one-ninth of the global output expansion. The economic output of 44 markets is expected to contract by $498 billion during 2010. Despite bailouts, France is expected to account for one-fifth, Spain is expected to account for one-fifth, Italy is expected to account for one-sixth of the global output contraction.

IMF's economic outlook for 2010 noted that banks faced a "wall" of maturing debt, which presents important risks for the normalization of credit conditions. There has been little progress in lengthening the maturity of their funding and, as a result, over $4 trillion in debt is due to be refinanced in the next 2 years.^[1]`

The world- or global economy

The world- or global economy generally refers to the economy, which is based on economies of all of the world's countries, national economies. Also global economy can be seen as the economy of global society and national economies - as economies of local societies, making the global one. It can be evaluated in various kind of ways. For instance, depending on the model used, the valuation that is arrived at can be represented in a certain currency, such as 2006 US dollars.

It is inseparable from the geography and ecology of Earth, and is therefore somewhat of a misnomer, since, while definitions and representations of the "world economy" vary widely, they must at a minimum exclude any consideration of resources or value based outside of the Earth. For example, while attempts could be made to calculate the value of currently unexploited mining opportunities in unclaimed territory inAntarctica, the same opportunities on Mars would not be considered a part of the world economy—even if currently exploited in some way—and could be considered of latent value only in the same way as uncreated intellectual property, such as a previously unconceived invention.

Beyond the minimum standard of concerning value in production, use, and exchange on the planet Earth, definitions, representations, models, and valuations of the world economy vary widely.

It is common to limit questions of the world economy exclusively to human economic activity, and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research or government cooperation makes establishing figures difficult. Typical examples are illegal drugs and other black market goods, which by any standard are a part of the world economy, but for which there is by definition no legal market of any kind.

However, even in cases in which there is a clear and efficient market to establish a monetary value, economists do not typically use the current or official exchange rate to translate the monetary units of this market into a single unit for the world economy, since exchange rates typically do not closely reflect worldwide value, for example in cases where the volume or price of transactions is closely regulated by the government.

Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms of real US dollars. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's 6.8 billion people have most of their economic activity reflected in these valuations.

In 2011, the largest economies in the world are the United States, China, Japan,Germany, France and the United Kingdom.