Sometimes a picture is worth a thousand words.
With the G20 focused on increasing economic growth, it's worth remembering where the global action is. The above graph from the IMF Multilateral Policy Issues Report, published in July, shows that the emerging economies have been doing the heavy lifting, at least as measured in purchasing power parity terms. There is a reminder here, as well, of how they carried global growth during the 2008-09 downturn following the financial crisis.
The October IMF World Economic Outlook is forecasting that the emerging economies will grow as fast in 2015 as they did in 2012 and 2013, so the red bars will be a bit bigger (their rapid growth makes them bulk larger in the global growth calculation). And our region ('emerging and developing Asia') is forecast to continue its steady 6 .5% growth.
