Yesterday we highlighted that the United States' market cap as a percentage of global market cap has been on the decline. Below we provide a table of the numbers for 29 other countries. As shown, US stocks still dominate world market cap by a wide margin at 29.9%. Japan has the second largest stock market representation at 8.2%, followed by the UK (6.8%), China (5.4%) and France (4.4%). China is noteworthy because it made up just 1.7% of global market cap at the start of 2004, and now it has the fourth largest representation.
We also sorted the list of countries by how much their % of world market cap has changed since the start of 2004. As shown, Saudi Arabia has increased the most at 877.5% -- going from 0.1% to 0.9%. Saudi Arabia is followed by Egypt, Qatar, Brazil, UAE, China, Russia and India. With oil's enormous rise over the last few years, it's no surprise that many of the countries with the biggest gains are major oil producing countries. The US is at the very bottom of the list with a significant decline of 31.6%. Japan is down 20%, the UK is down 12%, Italy is down 10%, and France is down 5%.
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It is the surplus oil money that is fuelling inflation, unrealistic market cap gains, and world economic malaise.
Doesn't this make the fact so obvious that we are held hostage by black gold?
Posted by: Alykhan Virani | August 15, 2008 at 05:39 PM