Understanding World Economy And World Industry
Gross domestic product (GDP) measures the income and output for the economy of a country. The world GDP has been calculated at $65.61 trillion by the CIA World Factbook (2007). Another comparative measurement of wealth is purchasing power parity (PPP). It is the relative values of two currencies.
Now, look at the world from the Wests perspective. China occupies Tibet. Any dissent is swiftly dealt with using brutal efficiency. The death sentence is enforced and organs harvested from executed criminals. Many in the West view these practices as, at the least, distasteful. But this is the accepted way in China.
It has become a catch-up concept to describe a range of trends and forces leading to openness, integration, and interdependence of economies. In short, LPG process--liberalization, pri...