India, China join world’s top five, become donors

by Dave

via Thaindian News
With India and China among the top five economies, developing countries now produce 41 percent of the world’s output, up from 36 percent in 2000, according to the World Development Indicators (WDI) 2008. Measured at gross national income, the United States is still the largest economy, producing $13.2 trillion worth of goods and services; but China is number two, and India is number four, a senior world bank official said Friday.

“So we have two developing countries in the top five, and we have three more in the top 12,” noted Eric Swanson, programme manager, World Bank Development Data Group, taking it as a pointer to growth of the developing world and its movement into the global economy.