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Do you know what are the biggest companies on earth? Well, Forbes.com once again made a huge list of the The Global 2000 from 60 countries. The composite ranking is simply based on sales, profits, assets and market value. This is important because one metric alone can give a false impression about corporate size. In total, the global 2000 companies now account for $30 trillion in revenues, $2.4 trillion in profits, $119 trillion in assets and $39 trillion in market value. Around the world, 72 million people work for these companies.
The economy of the United States is the world's largest national economy. Its gross domestic product (GDP) was estimated as $13.8 trillion in 2007. It is a mixed economy and private firms make the majority of microeconomic decisions, while being regulated by the government. The U.S. economy maintains a moderate level of output per person (GDP per capita, $32,700 in 2007, ranked within the top ten highest by most sources). The U.S. economy has maintained a stable overall GDP growth rate, a low unemployment rate, and high levels of research and capital investment. Major economic concerns in the U.S. include national debt, external debt, entitlement liabilities for retiring baby boomers who have already begun entering the Social Security system, corporate debt, mortgage debt, a low savings rate, low wages, and a large current account deficit. So, here are the top 10 companies from The Global 2000 list by Forbes.com
The economy of Europe comprises more than 710 million people in 48 different states. Like other continents, the wealth of Europe's states varies, although the poorest are well above the poorest states of other continents in terms of GDP and living standards. The difference in wealth across Europe can be seen in a rough East-West divide. Whilst Western European states all have high GDPs and living standards, many of Eastern Europe's economies are still emerging from the collapse of the Soviet Union and former Yugoslavia. Throughout this article "Europe" and derivatives of the word are taken to include selected states that are geographically in Asia, bordering Europe - such as Azerbaijan and Cyprus.
Europe's largest national economy is that of Germany, which ranks third globally in nominal GDP, and fifth in purchasing power parity (PPP) GDP; and its second is that of the United Kingdom, which ranks fifth globally in nominal GDP and sixth in PPP GDP. As a single country the European Union would be the world's largest economy.
The United Kingdom has the fifth largest economy in the world in terms of market exchange rates and the sixth largest by purchasing power parity (PPP). It has the second largest economy in Europe after Germany.
The United Kingdom is one of the world's most globalised countries, ranking fourth in one recent survey. The capital, London (see Economy of London), is one of the three major financial centres of the world, along with New York City and Tokyo.
The British economy is made up (in descending order of size) of the economies of England, Scotland, Wales and Northern Ireland. The UK has been a member state of the European Union since 1973.
In the 1980s, under the Government of Margaret Thatcher, most state-owned enterprises in the industrial and service sectors, which since the 1940s had been nationalised, were privatised. The British Government now owns very few industries or businesses - Royal Mail is one example.
The British economy has in recent years seen the longest period of sustained economic growth for more than 150 years, having grown in every quarter since 1992. It is one of the strongest EU economies in terms of inflation, interest rates and unemployment, all of which remain relatively low. Consequently, the United Kingdom, according to the International Monetary Fund, now has the seventh highest level of GDP per capita in the European Union in terms of purchasing power parity, after Luxembourg, Ireland, the Netherlands, Denmark, Austria and Finland. However, in common with the economies of other English-speaking countries, it has higher levels of income inequality than many European countries. The UK also has the world's third largest current account deficit, despite significant oil revenues.
Although the UK's "labour productivity per person employed" has been progressing well over the last two decades and has overtaken productivity in Germany, it lags around 20% behind France's level, where workers have a 35-hour working week. The UK's "labour productivity per hour worked" is currently on a par with the average for the "old" EU (15 countries).
The United Kingdom currently ranks 16th on the Human Development Index.