Global output rose by 3.8% in 2008, down from 5.2% in 2007. Among major economies, growth was led by China (9.8%), Russia (7.4%), and India (7.3%). Worldwide, nations varied widely in their growth results, with Macau (16.6%), Azerbaijan (15.6%), Angola (15.1%), and Afghanistan (13.5%) registering the highest.
Growth rates slowed in all the major industrial countries and most developing countries, because of uncertainties in the financial markets and lowered consumer confidence. Externally, the nation-state, as a bedrock economic-political institution, is steadily losing control over international flows of people, goods, funds, and technology. international bodies, notably the EU.