Klimaatverandering 126

'Global Economic Growth Continues at Expense of Ecological Systems
-->Abstract
In 2007, gross world product (GWP)—the aggregated total of all finished goods and services produced worldwide—was expected to grow 5.4 percent to $72.3 trillion (in 2007 dollars). This estimate reflects actual purchasing power in countries (that is, in purchasing power parity or PPP terms). The market exchange rate GWP, which is based on straightforward monetary terms, was expected to reach $53.4 trillion, an increase of 8 percent since 2006. The projected growth of GWP (PPP) in 2007 was revised downward from earlier estimates due particularly to economic disruptions in the U.S. housing market, which also had ripple effects in other countries, particularly within Europe and in Japan. Even with this late-term contraction, growth in 2007 was still expected to be higher than the average since 1970.
The U.S. economy was projected to grow 2.1 percent in 2007, nearly 1 percent slower than the previous year. This significant contraction came in large part from the turmoil felt in the subprime mortgage sector, with foreclosures, reductions in residential investments, and declining housing values reducing growth as well as consumer confidence. Rising gasoline prices also had a significant impact. U.S. economic growth is expected to slow further in 2008.
-->In 2007, gross world product (GWP)—the aggregated total of all finished goods and services produced worldwide—was expected to grow 5.4 percent to $72.3 trillion (in 2007 dollars).1 (See Figure 1.) This estimate reflects actual purchasing power in countries (that is, in purchasing power parity or PPP terms). The market exchange rate GWP, which is based on straightforward monetary terms, was expected to reach $53.4 trillion, an increase of 8 percent since 2006.2 The projected growth of GWP (PPP) in 2007 was revised downward from earlier estimates due particularly to economic disruptions in the U.S. housing market, which also had ripple effects in other countries, particularly within Europe and in Japan.3 Even with this late-term contraction, growth in 2007 was still expected to be higher than the average since 1970.4 (See Figure 2.)
The U.S. economy was projected to grow 2.1 percent in 2007, nearly 1 percent slower than the previous year.5 This significant contraction came in large part from the turmoil felt in the subprime mortgage sector, with foreclosures, reductions in residential investments, and declining housing values reducing growth as well as consumer confidence.6 Rising gasoline prices also had a significant impact.7 U.S. economic growth is expected to slow further in 2008.8
Although the U.S. economy still accounts for 19 percent of the world total, China is closing the gap—now accounting for 16 percent of GWP, up from 15 percent in 2006.9 China’s gross domestic product (GDP) grew dramatically in 2007, jumping an estimated 11.7 percent and making up one third of the projected $3.7 trillion in GWP growth in 2007.10 Increases in exports and investments drove this expansion.11
Growth in China’s GDP, however, has not come without cost. China is increasingly suffering from the externalities of economic growth: politically destabilizing inequality and pollution. Today, only 1 percent of China’s 560 million urban residents breathe air that is considered safe by European Union (EU) standards.12 Air and water pollution have led to numerous occurrences of social unrest.13 And China is now the leading producer of sulfur dioxide emissions and has nearly surpassed the United States in total carbon dioxide emissions (though not in per capita emissions).14
The European Union now accounts for 21 percent of GWP, which as an aggregate makes it the largest economy in the world.15 The EU economy was expected to grow 3.2 percent in 2007, having slowed in some countries due to investments in troubled U.S. financial markets.16
India’s economy was expected to grow 9.1 percent in 2007, accounting for 11 percent of total GWP growth—more than the U.S. contribution.17 Growth in the world’s second most populous nation was mainly driven by domestic demand.18
Sub-Saharan Africa was projected to grow 6.1 percent—with this growth coming mostly from oil exports and from the dominant South African economy, which makes up one third of the region’s gross product.19 Although it is now growing more quickly than in the past, sub-Saharan Africa still accounts for just 2.6 percent of the global economy.20
Per capita GWP was expected to reach $10,956 in 2007.21 (See Figure 3.) This was a growth of 4.1 percent—less than total GWP growth because world population increased by nearly 77 million people.22 Yet GWP per capita does not reflect the vast disparity in GDP per person—even when these figures are expressed in purchasing power parity terms. In the United States, GDP per person is $44,974, for example, while in China the figure is $8,780 and in India it is just $4,183.23'

Lees verder: http://www.worldwatch.org/node/5456