More people lived in urban than rural areas for the first time ever in 2007. This year it is estimated that 54 per cent of the world’s population live in cities and by 2050 it is predicted to hit 66 per cent, a mirror image of the two-thirds living in rural areas at the mid-point of the twentieth century. This is expected to come about as development fuels mass internal migration in Africa and Asia. The UN makes no effort to standardise individual countries definitions of urban: population numbers, density and the proportion not working in agriculture and other are all used by different statistical offices.
Estimates of Chinese gross domestic product, released this morning, showed that the rate of growth has sunk to its lowest since the financal crisis. Double-digit expansion may be a thing of the past, but China’s economy is now four times larger than it was at the turn of the century. Measuring China’s GDP using purchasing power parity, the International Monetary Fund estimates that China’s economy will be bigger than the US’s by the end of the year.
by Gavin Jackson and Keith Fray
On Tuesday the International Monetary Fund released its latest World Economic Outlook. A striking new finding emerges: the seven largest emerging markets are now bigger, in gross domestic product terms, than the long established G7 group of industrialised nations, when measured at purchasing power parity (PPP). Read more >>
This interactive graphic shows the full results of India’s general election. Narendra Modi and his Hindu nationalist Bharatiya Janata Party swept to power in the world’s largest democracy, winning a straight majority without the need for allies – the first such victory for a single party in three decades. Read more >>
by Andrew Jack
From trade embargoes to arms blockades, sanctions have long been an extension of conflict by non-military means. Since the start of the twenty-first century, there has been growing use of “targeted” sanctions that draw on intelligence to pinpoint individuals for travel bans or asset freezes. The United Nations, the European Union and the US have announced a wide series of measures, while other organisations including the African Union and individual countries have also issued them with varying degrees of success.
There is fierce debate about the effectiveness of sanctions, with at least two organisations seeking to assess their mixed impact. Our interactive graphic draws on the global analysis by the Peterson Institute for International Economics and the Targeted Sanctions Consortium, based in Switzerland. Read more >>
Chinese exports increased by 4.3 per cent in December compared to the same month last year, while imports rose by 8.3 per cent. That gave China a total of $4.16tn in combined exports and imports in 2013, a figure that the US will find difficult to match. This leaves no doubt that China, the world’s second-biggest economy, is now the world’s biggest trading nation on an annual basis.
Chinese and US trade values were similar in 2012, slightly larger for China according to their respective national data but slightly bigger for the US according to the World Trade Organisation and the International and Monetary Fund. Read more >>