gb12 - A G lance at the World Economy The global economy...

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A Glance at the World Economy The global economy produces about $48 trillion worth of goods and services every year. The United States is the single-largest economic entity, with a GDP of approximately $13.2 trillion. In comparison, the 500 largest multinational entities have annual sales in excess of $20 trillion. From 1996 to 2006, total Fortune Global 500 revenues nearly doubled, from $11.4 trillion to $20.9 trillion. Today, the sales of some individual multinational entities exceed the GDPs of many countries. For example, Wal-Mart is the 22 nd largest economic entity in the world, and ExxonMobil is the 23 rd largest. Approximately 80% of the 500 largest multinational entities come from the Triad—North America, Western Europe and Japan. Nevertheless, Brazil, South Korea, and China are emerging economies with multinational entities that consistently show up in the Fortune Global 500. Personal Views and Biases on Globalization At the beginning of the century, two important events evidenced a backlash against globalization:
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