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    Considering that the world economic situation and the balance of power have undergone a significantchange， the Boao Forum for Asia this year releases， for the first time， a report on emerging economies —— TheDevelopment of Emerging Economies 2009.
    The Boao Forum for Asia has chosen to release such a report on the development of emergingeconomies mainly for the following considerations. First， emerging economies have become very importantin the current global economic system and will become more and more important as time passes， which isindicated by the institutionalizing of the G20 and its increasingly outstanding role in the global governanceframework. Second， quite a number of the Boao Forum members are emerging economies. Third， as host ofthe Boao Forum， China itself is a very important emerging economy. Last but not least， it should be knownthat the relationship between emerging economies and developed economies in the future will largely definethe direction of the worlds economic development. Recognizing this trend will be conducive to pushingcooperation among Asia Pacific regions， especially the Boao Forum member economies.
    This report， for the first time， studied the emerging economies as a whole， and it selectedll emergingeconomies， which are the majority of representatives in the G20， as subjects for study， and for the first time putforward the concept of the "Ell" （ll emerging economies）， so that the study of emerging economies couldtarget a relatively constant scope and body of subjects. Of course， the Ell is a changeable and open concept，subject to change in accordance with the change in the international situation.
    This report， through systematically examining the conditions and trends of the economic operation ofthe E11 and their global cooperation over the past decade， especially their performance and contributoryrole in the global financial crisis， for the first time summarizes the important role of emerging economies inthe world economy and provides its outlook of future of the development of the Ell. It would undoubtedlybe very constructive in helping people better understand the development of emerging economies and inpushing international cooperation among themselves， especially among emerging economies and vast otherdeveloping countries， and all over the world.
    We sincerely thank all the friends who have contributed to the compiling of this report. We welcome andhope for any readers opinions and feedback so that we can improve in the future.

    First， most of them boast a relatively higheconomic growth rate. The weighted averageeconomic growth rate of those 11 countries was5.92 percent in 2008， much higher than that ofthe advanced economies of the G20 （G7 countriesplus Australia）， which was 0.33 percent. It was alsohigher than that of the 27 EU economies plus theremaining four economies of the G20 （EU plus G4），which was 0.61 percent. It is certainly also higherthan the 3 percent average economic growth rateof the world in the same year （See Table 2.3 inChapter 2）.
    Second， those 11 developing countries aremostly global （at least regional） powers. In 2008，the GDP of those countries totaled US$13 trillion，about 40 percent of GDP of the G7 plus Australia inthe same year. In terms of single-country GDP， someof them have been larger than those moderatelydeveloped countries （excluding the US and Japan），or roughly keep abreast of them. tn terms ofpopulation， those 11 countries account for morethan half of the worlds total.
    Third， those 11 countries remain developingnations. Overall， their per capita GDP lags far behindthat of developed countries. In 2008， for example，their per capita GDP was less than one tenth of thatof the G7 plus Australia and the G4 plus EU.
    Fourth， the aggregate trade in goods of the 11countries accounts for 23 percent of the worlds totaland they account for 20 percent， 13 percent and 17percent of the worlds total in terms of aggregateimports of goods， service trade exports and imports，respectively. The ratio of their aggregate tradevolume to GDP is more than one third higher thanthat of the G7 plus Australia. In terms of internationalinvestment position， in 2007， the assets in thefinancial accounts of those 11 countries totaledUS$5.6 trillion. Existing capital that has flowed intothose 11 countries in various forms， such as directinvestment and securities investment， has reachedUS$6.5 trillion. Those evidences indicate the fairlyhigh economic openness of those 11 countries.

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