This problem involves assessing a series of statements related to the long-term shifts in the global distribution of production, specifically concerning the economic trajectories of the West and Asia. The task is to identify which of the provided statements are correct based on the data and concepts presented.

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Figure 1.18 offers a summary of the historical shifts in the global distribution of production. This visualization specifically details these changes by showing the percentage of total global output originating from three different geographical regions over time: Asia, the West, and the Rest.

Figure 1.18: Visualizing the Changing Geography of World Output

To cite the ebook, use The CORE Econ Team 2023 The Economy 2.0: Microeconomics Open access e-text https://core-econ.org/the-economy/.

To cite a unit, use The CORE Econ Team 2023 The Economy 2.0: Microeconomics Open access e-text https://core-econ.org/the-economy/ Unit [unit number] (url).

CORE Econ - The Economy 2.0: Microeconomics

In the context of the changing geography of world output as shown in Figure 1.18, 'The West' is a specific regional grouping. It encompasses western Europe, the United States, Canada, Australia, and New Zealand.

Regional Definitions in Figure 1.18: The West

In the analysis of the shifting global distribution of production (Figure 1.18), the category 'The Rest' refers to a diverse collection of regions. This group includes Latin America, Japan, Africa, and Eastern Europe. The Eastern Europe sub-group is further defined as including Russia and other nations that were under Communist Party rule during the second half of the 20th century.

Regional Definitions in Figure 1.18: The Rest

The data visualized in Figure 1.18, showing the historical shares of world output by region, is drawn from two key sources. These are Angus Maddison's 2007 work, 'Contours of the world economy 1–2030 AD: Essays in macro-economic history,' and the International Monetary Fund's (IMF) 2022 World Economic Outlook.

Data Sources for Figure 1.18 (Changing Geography of World Output)

The long-term historical trends of the shares of global output attributed to the West and Asia can be visualized using the analogy of a pair of pliers. This comparison serves as a memorable way to understand the shifting economic balance between these two regions over time.

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