Most Powerful Economies in the World (1980-2026)
นอกจากการดูบทความนี้แล้ว คุณยังสามารถดูข้อมูลที่เป็นประโยชน์อื่นๆ อีกมากมายที่เราให้ไว้ที่นี่: ดูความรู้เพิ่มเติมที่นี่
This video shows the Most Poweful Economies in the World, based on nominal GDP, between years 1980 and 2026. Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health.
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Data Source: International Monetary Fund database
Music: Scott Buckley Terminus, Pathfinder
Indonesia’s Economy: The Next Economic Superpower?
If you wanted to put Indonesia’s economy in context, comparing it to its neighbours is a good place to start. Malaysia and Thailand. Countries 8 and 4 times smaller than it. Indonesia doesn’t appear to be as interconnected with the world. It has fewer top global firms, less overseas investment holdings, considerably smaller high tech exports, fewer patents and not one university ranked in the top 800 in the world.
And again, remember. This is an economy which is tipped to be a world leader in less than a decade.
So when you think about a developing economy. More often than not a familiar development pattern emerges. One based on a transition from agriculture to manufacturing, a comparative advantage in cheap labour, slowly climbing up the value chains, which finally propels it nation into developed country status.
And a lot of these factors are relevant to Indonesia’s economic journey. But there is a big exception here.
Indonesia’s heavy reliance on commodities as opposed to manufacturing. The nation is awash with natural resources on both land and sea. Being historically a member of OPEC, but a net importer of oil since 2003.
Luckily for Indonesia, the 2000s were the perfect time to cash in. The world has just been through a commodity supercycle.
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Compare aquaculture production of Vietnam and ASEAN (1961-2016) | ASEAN Statistics | CP STATS
Aquaculture is understood to mean the farming of aquatic organisms including fish, molluscs, crustaceans and aquatic plants. Aquaculture production specifically refers to output from aquaculture activities, which are designated for final harvest for consumption. In the last 10 years (20092019), Indonesia is the leading ASEAN country in aquaculture production, the second is Vietnam.
Data source: World Bank
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Fastest developing countries in Asia (1980-2020)|TOP 10 Channel
Fastest developing countries in Asia (19802020)|TOP10Channel
Data: IMF report, 2021
Asia comprises more than 4.5 billion people, accounting for 60% of the world population, living in 49 different nations and dependences. Asia is the fastest growing economic region, as well as the largest continental economy by both GDP Nominal and PPP in the world. Moreover, Asia is the site of some of the world’s longest modern economic booms, starting from the Japanese economic miracle (1950–1990), Miracle on the Han River (1961–1996) in South Korea, economic boom (1978–2013) in China, Tiger Cub Economies (1990–present) in Indonesia, Malaysia, Thailand, Philippines, and Vietnam (1991–present).
As in all world regions, the wealth of Asia differs widely between, and within, states. This is due to its vast size, meaning a huge range of different cultures, environments, historical ties and government systems. 85% of Asia’s GDP is distributed in the10largest economies. The economic scale of the region is constantly increasing.
TOP10Channel presents in this video the Fastest developing countries in Asia through out 40 years from 1980 to 2020
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The term of \”country\” here, in this video includes sovereign states and dependent territories. The presentation of the information in this video do not imply the expression of any opinion whatsoever concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. Although the video try to provide the most plausible information but it does not warrant that the information contained in the video is complete and always correct and shall not be liable whatsoever for any damages incurred as a result of its use.
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Inflation is common in a modern economy. Shifts in supply and demand for goods and services cause prices to change accordingly. When the average level of prices rises, that’s inflation. It means that you’ll need more money to purchase the same stuff.
Inflation in the United States can be measured using the Bureau of Labor Statistics’ Consumer Price Index (CPI) – a weighted average of the price increases. We can calculate the inflation rate by the percentage change in the CPI over a given period of time.
How much do prices actually change? Well, using FRED, we can see that, over the past thirtythree years, prices have more than doubled. That may seem like a lot. However, wages have also risen, on average, by more than prices during that time period. Inflation doesn’t necessarily mean that we’re worse off.
The inflation rate in the United States has averaged at about 2.5% per year since 1980, which is fairly low and indicative of a stable economy. Prices may be increasing, but the changes are small. Wages have time to catch up. You can be confident that the $5 in your pocket isn’t going to be worth drastically less in a year.
Let’s take a look at a different scenario one that’s playing in Venezuela right now. As the country faces an economic crisis, inflation is skyrocketing. Rates reached 180% in 2015 and have continued to rise since. 5 bolívar in your pocket could be worth less even by the end of the day.
But Venezuela still doesn’t compare to the hyperinflation that Zimbabwe experienced in the 2000s, reaching dizzying rates of billions of a percent per month. (See MRU’s previous video for more!)
While some inflation is perfectly normal, high rates of inflation make it difficult for consumers to use a nation’s currency. If the value is changing a lot by the week, day, or even minute, people don’t want to hold onto or accept the currency for goods and services leading to a full blown currency crisis.
Up next, we’ll take a deeper dive into what causes inflation and its consequences.
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