World economy will resume growth and put on a 3.5-percent increase in 2010, driven largely by emerging economies, a latest research report reveals on Monday.
"Global growth will resume in 2010, with global output per head returning to pre-crisis levels," said Bart van Ark, chief economist of the
New York-base private research group Conference Board.
According to the organization's Global Economic Outlook 2010, advanced economies' share of world gross domestic product (GDP) has fallen from
two-thirds in 2000 to below 50 percent today and will hit one-third by 2016.
Meanwhile, China will remain a dominant economic force, but its growth will gradually slow as its transition proceeds to a consumer-driven economy, the report says.
"Looking further out, emerging and developing economies will account for a much larger share of the global pie -- as much as two thirds by 2016.
And while China will surely be a major force in the unwinding of the crisis, we'll see other emerging markets increasingly fueling global growth," said
Bart van Ark.
The Conference Board Global Economic Outlook 2010 projects output growth for major regions of the world economy and the world as a whole for
2009, 2010, and 2011-2016, and takes into account macroeconomic as well as business dynamics such as changes in consumer and labor markets and relative
costs. The report will be published in mid-January.