BRW --- Page: 23 : 11 January 2007 Original article by Phil Ruthven
ABIX Summary
Despite near-misses in 1982 and 1991, there has not been a global recession for over 70 years. Global gross domestic product is forecast to exceed four per cent for the fifth consecutive year in 2007. Developing countries have evinced the strongest growth in the 21st century, and comprise nine of the top 10 fastest-growing economies in 2007. China has achieved a hefty annual growth of 8.2 per cent for the last 50 years. Australia is expected to have the strongest growth of larger OECD countries in 2007. China (including Hong Kong) is forecast to grow by nine per cent, ahead of India on 7.4 per cent and Russia with 6.4 per cent.
