Abstract
The year 2004 represented one of the best year that the world economy has experienced since the beginning of the millennium. Indeed the growth of the Gross World Product (GWP) has increased by 4 per cent in 2004 compared to only 2.8 per cent in 2003. However this high rate of growth in 2004 can be easily explained by the fact that the improvement was almost universal. Indeed all the regions of the world reached impressive growth rates in 2004 compared to the figures of 2003. Even countries in specific conditions of development, "the least developed countries and landlocked countries, grew by more than 5 per cent during" this year. Nevertheless the economic situation among Triad countries (Japan, Europe and the United States) has not been so successful. Indeed major economic problems remain in Europe, especially the high rate of unemployment, and in Japan also, which represent two of the 3 most important markets for LVMH. For the year 2005, economic results are even weaker. According to the WTO economic analysts world output decreases. This is partly attributed to the huge increase of oil prices, which have slowed down the world trade growth in 2005.
