[lbo-talk] Austerity In The Face Of Weakness

[dredmond at efn.org]

On Thu, September 2, 2010 11:32 pm, Patrick Bond wrote:


> For the rest of living elsewhere, the crisis has been coming in much
> deeper and longer waves (the first article below has a list of extreme
> devaluations).

Here's the data, in market exchange rates, not purchasing power parities,
for GDP in the largest countries of the periphery and semiperiphery,
ranked by population:

World GDP 1999, Largest Industrializing Countries
Top 10 countries... $4.1 trillion
Top 40 countries... $5.8 trillion
Top 80 countries... $6.1 trillion

World GDP, 2009, Largest Industrializing Countries
Top 10 countries... $12.4 trillion
Top 40 countries... $17.0 trillion
Top 80 countries... $18.0 trillion

Collectively, the semiperiphery is now bigger than the US and larger than
the EU. Thus the importance of those BRIC summits -- the semiperiphery is
beginning to wake up.

-- DRR