China, India and other developing countries are set to give the world economy its biggest boost in the whole of history, says Pam Woodall. What will that mean for today's rich countries? Last year the combined output of emerg-ing economies reached an important milestone: it accounted for more than half of total world gdp (measured at purchasing-power parity). This means that the rich countries no longer dominate the global economy. The developing countries also have a far greater influence on the performance of the rich economies than is generally realised.
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