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The frequency of air trips in developed economies will flatten out despite rising living standards, IATA said in its latest 20-year forecast.
This is why as developed economies invest in trade opportunities, Kenya allocates a huge fraction of its budget to infrastructural development as it plays catch-up.
ISLAMABAD -- The developed economies' growth has declined in the global climate change era particularly of US has faced 22.6 per cent decrease in its total share in the world gross domestic product (GDP) ratio.
From 1980 to 2017, he said that there was a downward trend from developed economies in their share of the global Gross Domestic Product (GDP), such as the United States of America, United Kingdom, Germany and Japan, whereas, there was an upward trend in the global share of GDP from developing emerging economies, such as Brazil, India and China.
"What did happen with globalization was a massive transfer of capital and purchasing power (via reserves) from the profligate developed economies to the "parsimonious" savers which the developing economies were, after burning their fingers in previous periods of excess.
Economic activities in both emerging and developed economies accelerated in 2017 by a 4.6 percent and 2 percent respectively increase over 2016.
FDI flows declined sharply in developed economies and economies in transition while those to developing economies stayed stable.
The White Paper 2017 focused on the first shift mentioned above to analyze the issues surrounding inequality in developed economies and relationships between trade and inequality.
Inward flows to developed economies dropped 37 percent to $712 billion as mergers and acquisitions fell 29 percent.
This decline was tempered by an 11 per cent growth in flows to other developed economies, principally Australia.
And unequal pay tops the list only in developed economies," reads the key findings of the report.