The World Economy in 2020

Observer 207, August/September 1997
In recent years, an increasing number of non-OECD countries have become sizable exporters of manufactures, in which there is now a flourishing two-way trade with OECD countries; it accounts for a large portion of the growth in commerce. The same trend is observed in capital flows, with an ever-larger share of OECD private foreign investment destined for non-member countries. Brazil, China, India, Indonesia, Russia – the ‘Big Five’ (each with a population over 150 million and GDP larger than $100 billion) – are already substantial importers, producers for world markets, hosts to foreign investment and,
more and more, foreign investors themselves. If these and other countries are able to sustain outward-oriented reforms, the non-members of the OECD should play an increasingly prominent role in the globalised economy of the 21st century.To read the full article, download the PDF file below.

Economic data

GDP growth: -9.8% Q2/Q1 2020 2020
Consumer price inflation: 1.3% Sep 2020 annual
Trade (G20): -17.7% exp, -16.7% imp, Q2/Q1 2020
Unemployment: 7.3% Sep 2020
Last update: 10 Nov 2020

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