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Significance
Major developed nations contributed less to global growth in the 2000s than in past decades. Major emerging markets and developing economies (EMDEs) contributed more, led by China. However, GDP growth is now slowing across the major EMDEs as well as developed economies.
Impacts
Greater economic performance differences among and between advanced and EMDEs risk exacerbating geoeconomic confrontation and fragmentation.
Greater global growth contributions by faster-growing lower-middle-income EMDEs will not offset many major EMDEs contributing less.
Reversing the growth deceleration trend in developed and EMDEs will depend on nations’ ability to raise productivity growth.
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2025
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