Gross Domestic Product is a broader measure the IMF
applies in evaluating performance of the Globe as a whole and individual countries.
Its recent forecast for the year 2024 confirms that there is an appreciable
power shift in geoeconomics. The winner: Global South
Firstly the Global GDP is calculated as USD 185.677
Trillion for the year 2024 by the IMF. There are ten major countries for whose
details appear to be somewhat representative of the growth trend. Out of which both
Global North and Global South have five countries each.
Let me give you an interesting table of the Global North
as hereunder in three departments:
Country GDP in USD in Trillion Percentage
of the Global GDP
USA 29.170 15.71
Japan 6.570 3.53
Germany 6.020 3.24
France 4.360 2.34
UK 4.280 2.30
Total 50.400 27.14 (rounded up figure)
Let me turn to the Global South performance in similar manner:
Country GDP in USD in Trillion Percentage of the Global GDP
China 37.070 19.96
India 16.024 8.63
Russia 6.910 3 72
Brazil 4.702 2.53
Indonesia 4.661 2.51
Total 69.367 37.35
Not only the there is big overlap in terms of volume but the uptick in percentage of the Global share by the Global South is indeed staggering. If this trend continues the Global North would find it hard to compete with the Global South in geoeconomics power spectrum. What is going wrong with the Global North?
Cheers!
Muthu Ashraff Rajulu
Business Strategist
Mobile: + 94 777 265677
E-mail: cosmicgems@gmail.com
Blog: Business Strategist
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