This worrisome trend stretches back over the past 30 years, together with a steady fall of labour income's share of GDP, giving rise to deteriorating income inequality in many parts of the world.
Even so, public-debt-to-GDP ratios will deteriorate.
The Dubai announcement caused the cost of this insurance to rise sharply for the emirate itself, though it has since fallen back a bit (see chart).Outside the Middle East the market that suffered most was Greece, which combines a high debt-to-GDP ratio, a deteriorating budget deficit and an historic inability to tackle its fiscal problems.
In Africa alone a UNCCD expert panel estimates 4-124-12%aGDPcultural GDP is lost due to deteriorating environmental conditions, contributing to the high levels of chronic hunger and conflict on the continent.
For example, a decline in the GDP per capita of origin country indicates the deteriorating economic conditions leading to uncertainty in employment opportunities, hence pushes people to migrate while any improvement in the GDP per capita of destination will pull the workforce from origin country.
Subtracting a 6-96-9percentnfromionominalfrom nominal GDP growth would identify an economy that was deteriorating and shrinking, not growing.
The deteriorating income inequity makes it harder for GDP growth to trickle down to the overall population.
Contrary to what many choose to believe, China's trade surplus is not caused by Chinese consumers' high saving rate, but has much to do with their deteriorating disposable incomes, which far lag behind GDP growth and inflation.
The shortfall between exports and imports widened from £8.6bn in the third quarter to £10.4bn, fuelling concerns that UK's deteriorating trading position will be a drag on GDP growth this year.
On the current course, public debt in the euro area is projected to reach 100% GDP by 2014! - the availability of bank loans to SMEs deteriorate.
