The increasing importance of developing countries in the global economy

One of the most striking features of the global economy in recent years has been the increasingly large role played by developing economies. This section examines how many countries recorded impressive growth in the last decade while making great strides in reducing poverty. Some have become leading producers and exporters of manufactured goods, agricultural products and commercial services, in some cases eclipsing the industrialized economies. This is especially true of the large developing economies which have taken on more prominent positions in international fora such as the G-20.