second largest economy in the world, but its contribution to the world economy also shrank significantly from 14.5% to 8.7% by nominal price or a fall from 7.8% to 6.0% adjusted for purchasing power. China (U.S. $4.98 trillion) went from being the sixth largest to the third largest economy, and in 2009 contributed to 8.6% of the world's economy, up from 3.3% in 1999 by nominal price or a rise from 6.9% to 12.6% adjusted for purchasing power. Germany (U.S. $3.35 trillion), France (U.S. $2.65 trillion), United Kingdom (U.S. $2.17 trillion) and Italy (U.S. $2.11 trillion) followed as the 4th, 5th, 6th and 7th largest economies, respectively in 2009. Brazil (U.S. $1.57 trillion) retained its position as the 8th largest economy, followed by Spain (U.S. $1.46 trillion), which remained at 10th. Other major economies included Canada (U.S. $1.34 trillion; 10th, down from 9th), India (U.S. $1.31 trillion; remaining at 11th from 12th), Russia (U.S. $1.23 trillion; from 16th to 12th) Mexico (U.S. $875 billion; 14th, down from 11th), Australia (U.S. $925 billion; from 14th to 13th) and South Korea (U.S. $832 billion; 15th, down from 13th). In terms of purchasing power parity in 2009, the ten largest economies were the United States (U.S. $14.26 trillion), China (U.S. $9.10 trillion), Japan (U.S. $4.14 trillion), India (U.S. $3.75 trillion), Germany (U.S. $2.98 trillion), Russia (U.S. $2.69 trillion), United Kingdom (U.S. $2.26 trillion), France (U.S. $2.17 trillion), Brazil (U.S. $2.02 trillion), and Italy (U.S. $1.92 trillion). The average house price in the UK, increased by 132% between the fourth quarter of 2000, and 91% during the decade; but the average salary increased only by 40%. Globalization and its discontents The removal of trade and investment barriers, the growth of domestic markets, artificially low currencies, the proliferation of education, the rapid development of high tech and information systems industries and the growth of the world economy lead to a significant growth of offshore outsourcing during the decade as many multinational corporations significantly increased subcontracting of manufacturing (and increasingly, services) across national boundaries in developing countries and particularly in China and India, due to many benefits and mainly because the two countries which are the two most populous countries in the world provide huge pools from which to find talent and as because both countries are low cost sourcing countries. As a result of this growth, many of these developing countries accumulated capital and started