CBP: Hermitage Capital’s Browder has right to enter USWorld October 24, 3:56
US didn't allow Russia to remove archive from Consulate General in San FranciscoRussian Politics & Diplomacy October 24, 1:20
Trump potentially ready to meet with Putin at APEC summitWorld October 23, 20:44
Mancini unlikely to drop Russia’s Zenit for West Ham — Italian ex-striker VialliSport October 23, 20:05
Volkswagen and Daimler inspected in European Commission’s antimonopoly probesBusiness & Economy October 23, 19:40
Baltic Fleet corvettes on long-distance voyage pass through English ChannelMilitary & Defense October 23, 18:56
South Korean chain to open 33 movie theaters in MoscowBusiness & Economy October 23, 18:41
Russian MP blasts Riga’s educational language reform ploy as ‘linguistic genocide’World October 23, 18:28
Collector robbed of masterpieces by top Russian artists worth over half a million dollarsSociety & Culture October 23, 18:04
LONDON, October 9. /TASS/. A new G7 emerges, the Financial Times said on Wednesday.
The International Monetary Fund on Tuesday released its latest World Economic Outlook. A striking new finding emerges: the seven largest emerging markets are now bigger, in gross domestic product terms, than the long established G7 group of industrialized nations, when measured at purchasing power parity (PPP), the British daily said.
A hypothetical new G7, comprising the BRICs Brazil, Russia, India and China and three of the so-called MINT economies Mexico, Indonesia and Turkey - has a combined GDP of $37.8 tn (at purchasing power parity) compared to $34,5 tn for the old G7 Canada, France, Germany, Italy, Japan, the UK and the US.
The new attempts to measure GDP also confirm that, in PPP terms, China is now the world's largest economy, overtaking the US (as revealed by the FT in April). At market exchange rates, the US economy is worth $17, 4 tn and the Chinese $10.4 tn. With an adjustment for relative prices, China’s economy moves up to first place, with a GDP of $17.6 tn.
Russia is the sixth among the new top 10, ahead of France and the UK.
“The new estimates point to a dramatically changed world: half of the twenty largest economies are now emerging markets and half are from the established rich world,” the Financial Times said.