I think he’s used nominal $ data – the chart looks very much like the main factor in how much US Gdp is as a % of world is not relative growth rates, but the dollar (peaks in 1985 and 2000, lows in 2008).
On a PPP basis the trend is much less erratic, mainly downwards, albeit slowly.
I think he’s used nominal $ data – the chart looks very much like the main factor in how much US Gdp is as a % of world is not relative growth rates, but the dollar (peaks in 1985 and 2000, lows in 2008).
On a PPP basis the trend is much less erratic, mainly downwards, albeit slowly.
1980 – 24.6%
1985 – 25.2%
1990 – 24.8%
1995 – 23.0%
2000 – 23.6%
2005 – 22.3%
2007 – 21.3%
2010 – 19.7% (forecast)
This is, of course, mainly to do with China.