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China's rise in the global economy catapulted the Middle Kingdom into East Asia's largest economy, overtaking Japan as the world's second largest economy in August 2010. [132] Until 2015, China was the world's fastest-growing major economy , with growth rates averaging 10% over 30 years.
Country GDP nominal billions of USD List of countries by GDP (per capita) Afghanistan 19.8: 508.81 Algeria 145.2: 3,310.39 Comoros 1.2: 1,402.60 Djibouti 3.4: 3,425.50 Libya
The economy of Asia comprises about 4.7 billion people (60% of the world population) living in 50 different nations. [1] [2] Asia is the fastest growing economic region, as well as the largest continental economy by both GDP Nominal and PPP in the world. [11]
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [ 1 ] This list is not to be confused with the list of countries by real GDP per capita growth , which is the percentage change of GDP per person taking into account the changing population of the country .
In 2015, Stratfor published a decade forecast for 2015 to 2025, which revised the predictions on China and Russia made in the book. Rather than the Russian government completely collapsing, it envisioned that the Russian government would lose much of its power, and the country would gradually fragment into a series of semi-autonomous regions.
The IMF publishes the World Economic Outlook report twice annually, which provides comprehensive global coverage. [9] The IMF and World Bank also produces Regional Economic Outlook for various parts of the world. [10] There are also private companies such as The Conference Board and Lombard Street Research that provide global economic forecasts ...
Another common issue that the region has addressed in economic and policy reforms is the integration of the Middle East into the global economy. Reports of economic reform in the Middle East in the early 2000s called for massive reforms to improve the Middle East's global financial integration as it stood below most developed regions.