For the past 50 years, these affluent countries have dominated the global economy, producing four fifths of its economic output.

In 2004, the world economic recovery gained momentum, and global output accelerated to 4 per cent, up from 2.5 per cent in 2003.

Meanwhile, the US share of global output has declined.

The G 20, which represents 80 of world output, came into its own in 2009 as the only multilateral body able to coordinate global economic policy.

It is a safe prediction, given that Asia is already home to nearly 60 of the world s population and accounts for roughly 25 of global economic output.

In 1800, Asia represented more than half of global population and output.

The US economy still accounts for about one quarter of global output.

As firms shed workers during the economic downturn, output fell more slowly.

By 1913, these 10 countries, plus the United States, controlled vast global empires 58 percent of the world's territory, about the same percentage of its population, and a really huge, nearly three quarters share of global economic output.

Such predictions were bolstered by reportedannual economic growth rates of 5 6 and an increase in the USSR s share of global output, from 11 to 12.3 , between 1950 and 1970.

The economic benefits of a trade agreement between economies that, together, account for more than 50 of global output and maintain nearly 4 trillion in cross border investment are evident.

In terms of economic output, today s EU is on par with the US.

In many countries, economic output sank dramatically, more so than in Europe s west.

The theory behind the massive economic stimulus efforts that many governments have undertaken rests on the notion of the output gap. This is the difference between an economy s actual output and its potential output.

Subsidies hurt developing country farmers because they lead to higher output and lower global prices.

After that, however, the Soviet growth rate and share of global output began a long decline.

In 2008, Africa s combined economic output reached 1.6 trillion, and consumer spending totaled 860 billion.

The world could actually enhance economic output and welfare by pursuing a path of mitigation.

Secondly, its dwindling workforce cannot sustain the economic output level that is maintained in the future.

According to the International Food Policy Research Institute (IFPRI), in the absence of more sustainable water management, the share could rise to 45 by 2050, placing a significant portion of global economic output at risk.

The tourism sector continued to be the main economic driver, accounting for on average 25 per cent of economic output during the period.

This new round of central bank activism reflects persistent concerns about economic growth. Despite a once unthinkable amount of monetary stimulus, global output remains well below potential, with the potential itself at risk of being suppressed.

Will there be enough global economic cooperation? When domestic needs become paramount, global economic cooperation suffers.

The same thing happened this time when the crisis went global in 2008 2009, imports fell faster than output.

By 1900, the industrial revolution in Europe and North America drove down Asia s share of global output to 20 .

Global output is probably falling faster than at any rate since World War II, except perhaps for 1974 1975.

Global Economic Cooperation or Bust

In 1750, Asia had three fifths of the world population and three fifths of the world s economic output.

With a large output gap and low inflationary pressure, expansionary policies show great potential for reviving economic activity.

For the first half of fiscal year 2004, economic health, as measured by employment and output, was mixed.

For instance, the energy consumption of every unit of Chinese industrial output is close to three times the global average.

But nowadays developing countries represent a much larger share of global output and an even bigger share of world lending.

This will raise actual output to the level of potential output, thereby closing the output gap.

With a return to output growth, the recession defined as two consecutive quarters of economic contraction is officially over.

Although their current combined GDP is still a relatively small fraction of global output (about 15 ), that share is rising rapidly.

Output

Output

A new global growth strategy is needed to maintain global economic progress.

In one way, this is a sign of economic progress the output of each unit of labor is constantly rising.

By enabling farmers to increase their output and incomes, smallholder inclusive private investment can bolster economic growth and food security.

The first thing to notice is that, as a result of the slump, capacity utilization is lower than it was 15 months ago global output has declined by roughly 5 since 2008, and developed country output by 4.1 .

Absent such confidence, Iraq s oil output will not approach its potential, which will only widen the gap between global supply and demand.

Periods in which trade grows at a slower pace than output are rare, and reflect severe strain on the global economy s health.

During the entire period, R D spending grew significantly faster than global output, reflecting both increasing government support and a rising share of technology intensive industries in global production and trade.

They cannot aspire to continued economic innovation or to global economic leadership.