But wages have grown at a far slower pace than GDP.

Japan s GDP share is about one third of Asia and 8 of the world.

Real GDP growth in 2007 was 6.0 per cent.

Even an economy with an overall budget deficit will have a declining government debt GDP ratio if the growth rate of its nominal GDP exceeds that of its debt.

Argentina s long term GDP growth has been disappointing.

Since 2008, banking sector credit growth in China has been among the fastest in the world, far outpacing GDP growth, and China s total debt has risen from 130 of GDP to 220 of GDP.

From a position of 5.1 real GDP growth in 1972, the UK went into recession in 1974, with GDP falling by 1.1 .

China s GDP growth fell dramatically, owing to the collapse of external demand.

In 2012, world trade expanded by only 2.5 , while global GDP grew at a disappointing 3.2 rate.

So, by the end of the year, we will see a slightly improved level of GDP, but the rate of GDP growth is likely to return to negative territory.

These measures alone correspond to 4 of global GDP.

Historically, inflation in China has followed GDP growth with a lag.

After many years of outperformance, GDP growth has slowed sharply.

GDP annual average growth for the period of 1995 2002 was 5.1 .

GDP growth registered more than 10 per year in 2006 and 2007.

Politicians have exacerbated the situation by doubling down on fiscal austerity, which has undermined GDP growth while failing to shrink government debt GDP ratios.

Yemen s GDP is only 10 the size of Greece s, representing 0.05 of global output, and its economy is not significantly linked to the international financial system.

That is, China s annual GDP growth rate would drop by four percentage points if its exports did not grow at all.

Since the second quarter of 2009, US annualized real GDP growth has averaged 2.4 .

China s GDP growth, which relies heavily on credit, will take a hit.

)The GDP grew after 1996 at an annual rate that averaged 3.2 real growth.

While nominal GDP generally rises over long periods of time at the same rate as the money stock, with interest rates very low and declining, households and institutions were willing to hold more money relative to total nominal GDP after 2008. So, while M2 grew by more than 6 , nominal GDP grew by just 3.5 and the GDP price index rose by only 1.7 .

This generates liquidity, which then stimulates GDP growth.

Only 11 of its China beating nominal GDP growth between 2003 and 2011 was due to growth in real (inflation adjusted) output.

As of this year, 1 of GDP growth is consistent with more than 3.5 of credit growth.

In 2004, the economy experienced 6.4 GDP growth and 7.1 in 2007, its fastest pace of growth in three decades.

After years of double digit GDP growth, the PRC s economy is decelerating.

BEIJING China s GDP growth this year may approach 10 .

The GDP growth rate was only 1.7 in 2011, and it is not significantly higher now.

From now on, consumption must grow much faster than GDP.

Indeed, annual GDP growth has fallen by five percentage points since 2010.

But, over the same period, annual GDP growth has averaged a modest 3.5 , and productivity growth has slipped into negative territory.

In April 2010, the International Monetary Fund s World Economic Outlook projected 1.8 annual GDP growth in Germany and the Netherlands in 2013.

Today, domestic investment has plummeted, exports are languishing, and GDP growth is down to around 4.5 per year.

Improving the quality of GDP growth will depend on Chinese leaders willingness to enact market oriented reforms.

Even more worrying, the rate of GDP growth has been declining almost from the start of the recovery.

Despite real growth in gross domestic product, most least developed countries have fallen even further behind.

1 In 2004, Guatemala reverted to real per capita GDP growth.

The key to restoring China s GDP growth is, therefore, returning fixed asset investment growth to at least 25 .

Until 2000, the G 7 accounted for about two thirds of global GDP.

The result will be trade liberalization in an area that produces 40 of global GDP.

Finland is highly integrated into the global economy, and international trade is a third of GDP.

But, although developing countries now account for more than half of global GDP growth, advanced countries have yet to admit them to leadership roles that reflect their growing influence in the world economy.

Over the past five years, China s contribution to world GDP growth has steadily increased from one fifth to one third, and India s from approximately 6 to 16 .

WASHINGTON, DC Greece s GDP, at about 300 billion, represents approximately 0.5 of world output.