China and Japan- occupying second and third position respectively on the list of top economies- have made new equation of world economy wherein developing countries have major say. According to experts, India left behind China in terms of GDP growth rate. JPN/Raju Kumar
Here, we enlist top economy powers, referring to International Monetary Fund:
1. USA: The United States is ruling the roost with whooping GDP USD 17,348,075 million.
2. China: The Communist country has been growing with unprecedented pace. Standing at second position in the list of top economic countries, China has USD 10,356,508 million GDP.
3. Japan: Known as hub of automobiles, Japan made its place on the list with GDP of USD 4,602,367 million.
4. Germany: One of the most economically stable countries of Europe, Germany has USD 3,874,437 million GDP. The economy of Germany had shown unprecedented resistance during infamous recession.
5. UK: During the colonial era, United Kingdom was one of the centres of the world economy but post World War-2, its grip over world market had weakened. Now, the United Kingdom has GDP of USD 2,950,039 million.
6. France: Member of EU (European Union), France has third-largest economy in the continent with Germany. It has USD 2,833,687 million GDP.
7. Brazil: Becoming one of the fastest growing economies, the developing nation has USD 2,353,025 million GDP. Brazilian economy has adopted moderately free markets policy.
8. Italy: The fourth largest economy in Europe, Italy has USD 2,147,952 million GDP. Italy is a founding member of trading organisations such as- Eurozone, OECD, G7 and G8.
9. India: One of the fastest growing economies, India has USD 2,051,501 million GDP. India had adopted economic liberalisation in early 1990s. After adopting economic reformations, the developing country had been receiving FDI (Foreign Direct Investment) which was proved as an accelerator of Indian economy.
10. Russia: Despite not having so harmonious relation with major economic counties of West including USA, Russia has notable say in world economy. Russia, having a mixed economy with state ownership in strategic areas of the economy has USD 1,857,461 million GDP.
China and Japan- occupying second and third position respectively on the list of top economies- have made new equation of world economy wherein developing countries have major say. According to experts, India left behind China in terms of GDP growth rate.