The global economy and markets have transformed since 1900
> The global economy has altered enormously since 1900, with Figure 8 showing the relative rise and decline of various economies over the period. The financial market landscape has also transformed. Figure 3 shows that from a relatively evenly distributed global equity market in 1900, the US market now dominates, today accounting for around **62% of total world equity market value**, despite its decline in relative…
