Watch 35 Years of the World’s Economy Evolving as a Living Organism

Jon Banking, Blogosphere, Economy

Here are the key points that this diagram has taught us:
History doesn’t go in a straight line: for many countries (including the US), the last 35 years have been an economic rollercoaster ride. Another example is Japan, which reached a peak of 17.6% of the global economy in 1994, but now stands at just 6%.
The global economy actually moves in waves: over the years, recessions in the US have impacted the entire global economy. For instance, rising US interest rates from 1986-1989 and an oil price shock in 1990 briefly slowed economic growth in the US. Also, the year 2001 saw the dot-com bubble burst and 9-11 attacks, which ended a decade of economic growth. But it was the Great Recession from 2007-2009 that had the biggest impact, causing the US and European economies to slow while emerging countries (mostly in Asia) continued to gather steam.
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This post was published at The Burning Platform on 13th March 2016.