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'India fourth largest economy'

WASHINGTON, DEC. 28. India has become the fourth largest economy in the world after the U.S., China and Japan, in that order, a media report says here. The U.S. accounts for 21.1 per cent of the world Gross Domestic Product, China 12.6 per cent, Japan 7 per cent, India 5.7 per cent, Germany 4.5 per cent, France 3.2 per cent, the U.K. 3.2 per cent, Italy 3 per cent, Brazil 2.8 per cent, Canada 1.9 per cent, Spain 1.8 per cent and Mexico 1.8 per cent, The Washington Times notes in its year-end review today.

With the U.S. running huge trade and budgetary deficits, America's top ten creditors ($1.5 trillion) are: Japan, which held $542.2 billion in treasury securities in 2003, China $168.1 billion, South Korea $61.8 billion, Britain $58.3 billion, Taiwan $50.4 billion, Hong Kong $48.9 billion, Switzerland $45.3 billion, Germany $43.8 billion, Bermuda $38.3 billion and Mexico $31.9 billion.

Seven out of the world's biggest companies are American, two British and one Japanese.

— PTI

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