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Growth in global output ( gross world product) (GWP) (in this article defined as GDP converted to US$ through estimated purchasing power parity exchange rates) fell from 4.8% in 2000 to 2.2% in 2001 and 2.7% in 2002. The causes: sluggishness in the US economy (21% of GWP) and in the 15 EU economies (19% of GWP); continued stagnation in the Japanese economy (7.2% of GWP); and spillover effects in the less developed regions of the world.
China, the second-largest economy in the world (12% of GWP), proved an exception, continuing its rapid annual growth, officially announced as 8% but estimated by some observers as perhaps two percentage points lower. Russia (2.6% of GWP), with 4% growth, continued to make uneven progress, its GDP per capita still only one-third that of the leading industrial nations. The other 14 successor nations of the USSR and the other old Warsaw PactHeinz Hoffmann, Polish Premier Wojciech Jaruzelski, Warsaw Pact Commander in Chief Viktor Kulikov, and Czechoslovakian Defence Minister Martin Dzur discussing Warsaw Pact manoeuvres in Poland, March 1981. The Warsaw Pact or Warsaw Treaty was a military al nations again experienced widely divergent growth rates; the three Baltic nations continued as strong performers, in the 5% range of growth. The developing nations also varied in their growth results, with many countries facing population increases that erode gains in output.Externally, the nation-stateThis article refers to a state in which a single nation is dominant. There is also an article on the Internet game NationStates. See also State (disambiguation). The term nation state (or nation-state , while often used interchangeably with the terms unit, as a bedrock economic-political institution, is steadily losing control over international flows of people, goods, funds, and technology. Internally, the central government often finds its control over resources slipping as separatist regional movements - typically based on ethnicity - gain momentum, e.g., in many of the successor states of the former Soviet Union, in the former YugoslaviaThe Socialist Federal Republic of Yugoslavia was a Balkan state that existed from 1945 to 1992. It was formed in 1945 from remains of the pre-war Kingdom of Yugoslavia under the name Democratic Federal Yugoslavia in 1946 it changed its name to Federal Peo, in IndiaThe Republic of India is a large multicultural country in South Asia, with a population of over one billion. The Indian economy is the fourth largest in the world, in terms of purchasing power parity, and is the world's second-fastest growing economy., and in IndonesiaThe Republic of Indonesia the world's largest archipelago, is located between the Southeast Asian peninsula and Australia, between the Indian and Pacific Oceans. Indonesia borders Malaysia on the island of Borneo ( Kalimantan in Bahasa Indonesia), Papua N.
Externally, the central government is losing decision-making powers to international bodies. In Western EuropeWestern Europe is distinguished from Central Europe and Eastern Europe by differences of history and culture rather than by geography. However, these boundaries of Europe are subject to considerable overlap and fluctuation, which makes differentiation dif, governments face the difficult political problem of channeling resources away from welfare programs in order to increase investment and strengthen incentives to seek employment.
The addition of 80 million people each year to an already overcrowded globe is exacerbating the problems of pollutionLachine Canal, in Montreal, is badly polluted Pollution is the release of harmful environmental contaminants, or the substances so released. Generally the process needs to result from human activity to be regarded as pollution. Even relatively benign prod, desertification, underemployment, epidemics, and famine. Because of their own internal problems and priorities, the industrialized countries devote insufficient resources to deal effectively with the poorer areas of the world, which, at least from the economic point of view, are becoming further marginalized.
The euro as the common currency of much of Western Europe in January 1999 , while paving the way for an integrated economic powerhouse, poses economic risks because of varying levels of income and cultural and political differences among the participating nations.
The terrorist attacks on the US on 11 September 2001 accentuate a further growing risk to global prosperity, illustrated, for example, by the reallocation of resources away from investment to anti-terrorist programs. The opening of war in March 2003 between a US-led coalition and Iraq added new uncertainties to global economic prospects.