Consider then what a typical GDP-enhancing investment would look like: a foreign entity sets up shop, enjoys cheap labour and limited environmental regulation, and extracts African natural resources to produce something.
The fact that China has 1.3 billion people, though, means that GDP per head – a typical measure of individual wealth – remains well behind leading economies.
America's current-account deficit was much larger, relative to GDP, than in a typical crisis candidate.Given such ominous indications, what of the aftermath?
Car production has rebounded, but to a level well below its typical share of GDP.
Measures the change in living standards and financial prosperity for typical households better than GDP, which has not been a good guide to incomes.
All this has a direct impact on economic growth: an extra ten phones per 100 people in a typical developing country boosts GDP growth by 0.8 percentage points, according to the World Bank.
Research suggests that the usage of an extra ten phones per 100 people in a typical developing country boosts GDP growth by 0.8 percentage points (Bhavnani et al. 2008).
In terms of national GDP rankings, the study county is typical of less developed rural areas in China.
Officially, 9% of GDP should be invested in it (a typical rate for India's roaring rival, China), with $500 billion supposedly earmarked for it in the five years to 2012 and in the following five years, to 2017, a whopping $1 trillion.
The typical financial crisis claims 9% of GDP, and the worst crises, such as those recently afflicting Argentina and Indonesia, wiped out over 20% of GDP, a loss greater even than those endured as a result of the Great Depression.
