question: What summit was to be attended by the representatives of 3% of the world's area, 21% of the world's population and 3.8% of the global economy, as of 2015?
answer: SAARC
context: Title: Economy of South Korea
  Passage: The economy of South Korea is the fourth largest economy in Asia and the 11th largest in the world.  It is a mixed economy dominated by family-owned conglomerates called chaebols, however, the dominance of chaebol is unlikely and at risk to support the transformation of Korean economy for the future generations.  South Korea is famous for its spectacular rise from one of the poorest countries in the world to a developed, high-income country in just one generation.  This economic miracle, commonly known as the Miracle on the Han River, brought South Korea to the ranks of elite countries in the OECD and the G-20.  South Korea still remains one of the fastest growing developed countries in the world following the Great Recession.  It is included in the group of Next Eleven countries that will dominate the global economy in the middle of the 21st century.
  Title: 19th SAARC summit
  Passage: The 19th SAARC summit is a scheduled diplomatic conference, which was originally planned to be held in Islamabad, Pakistan on 15–16 November 2016.  The summit was to be attended by the leaders of the eight SAARC member states and representatives of observers and guest states.
  Title: Globalization in Question
  Passage: Hirst and Thompson note that globalization is an important topic, not only in economics, but also in the social, political and managerial sciences.  There is much talk of the "global village" and it is often argued that a truly global economy has emerged, or is in the process of emerging.  This global economy, it is further argued, in what might be termed the "globalization hypothesis", has made domestic economic strategies useless in the face of the world market, in which a new breed of truly transnational corporations are the dominant actors.  The authors question the extent to which this globalization hypothesis is an accurate portrayal of how things actually are, and whether this is how they ought to be.  There is a strong polemical element to the book.
  Title: Economy of India
  Passage: The economy of India is an underdeveloped mixed economy.  It is the world's seventh-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).  The country ranks 141st in per capita GDP (nominal) with $1723 and 123rd in per capita GDP (PPP) with $6,616 as of 2016.  After 1991 economic liberalisation, India achieved 6-7% average GDP growth annually.  In FY 2015 and 2017 India's economy became the world's fastest growing major economy surpassing China.  The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.
  Title: Associative economics
  Passage: Associative economics is a term used variously by different people around the world.  For some of these the work of Austrian philosopher and social thinker Rudolf Steiner is a reference.  Steiner gave a course of lectures in 1922 in which he set out his view that with the advent of global economy, the science of economics would need to take a further step, which included an elaboration of the economic process, a more precise monetary analysis, and a clearer understanding of how, through the division of labour, the associative basis of economic life becomes apparent.  "Associative economics" emphasizes the development of conscious coordination of producers, distributors, and consumers.  It understands the global economy as a single unified domain, through which human beings meet one another's needs.  It is called "associative economics" because its goal is an economic sector which is managed by associations of business corporations (industry associations) and consumer associations instead of by the Invisible Hand of the blind market (capitalist economics) and instead of by the government (socialist economics).
  Title: Economy of Ohio
  Passage: The economy of Ohio nominally would be the 27th largest global economy behind Saudi Arabia and ahead of Argentina according to the 2015 IMF report.  The state had a projected GDP of $526.1 billion in 2013, up from 517.1 in 2012, and up from 501.3 in 2011, according to the Bureau of Economic Analysis.  In 2013, Ohio was ranked in the top ten states for best business climate by Site Selection magazine, based on a business-activity database.  The state was edged out only by Texas and Nebraska for the 2013 Governor's Cup award from the magazine, based on business growth and economic development.  A new report by the Quantitative Economics and Statistics Practices (QUEST) of Ernst & Young in conjunction with the Council On State Taxation (COST), ranks Ohio as third in the nation for friendliest tax environment.  The study, "Competitiveness of state and local business taxes on new investment," provides a state-by-state comparison of tax liabilities.  The top five states ranked with the lowest effective tax rate on new investment are: (1) Maine (3.0%); (2) Oregon (3.8%); (3) Ohio (4.4%); (4) Wisconsin (4.5%); and (5) Illinois (4.6%).
  Title: South Asian Association for Regional Cooperation
  Passage: The South Asian Association for Regional Cooperation (SAARC) is the regional intergovernmental organization and geopolitical union of nations in South Asia.  Its member states include Afghanistan, Bangladesh, Bhutan, India, Nepal, the Maldives, Pakistan and Sri Lanka.  SAARC comprises 3% of the world's area, 21% of the world's population and 3.8% (US$ 2.9 trillion) of the global economy, as of 2015.
  Title: Financescape
  Passage: Financescape is one the five aspects of global cultural flows that renowned globalization theorist Arjun Appadurai proposed in his article "Disjuncture and Difference in the Global Cultural Economy" that he claims can be used to distinguish the various disjunctures or disconnections between economy, culture and politics, within the overall global economy.  Appadurai poses that when considering the financescape framework, we must consider how global capital today moves in an increasingly fluid and non-isomorphic manner, thus contributing to an overall unpredictability of all the five aspects of global cultural flows as a whole.  The four other aspects Appadurai mentions in his article are ethnoscapes, technoscapes, mediascapes and ideoscapes. Appadurai further states that despite disjunctures having always existed between the flows of people, machinery, money, ideas and images, the world is at a crossroads where this is happening to a larger extent; pointing to the importance of studying the "-scapes".  These disjunctures also contribute to the central idea of deterritorialization which Appadurai describes as the main force affecting globalization in the sense that people from different countries and socioeconomic backgrounds are mixing with one another; namely the lower class of some countries integrating in to wealthier societies via the work force.  Subsequently, these people reproduce their ethnic culture, but in a deterritorialized context.
  Title: World economy
  Passage: The world economy or global economy is the economy of the world, considered as the international exchange of goods and services that is expressed in monetary units of account (money).  In some contexts, the two terms are distinguished: the "international" or "global economy" being measured separately and distinguished from national economies while the "world economy" is simply an aggregate of the separate countries' measurements.  Beyond the minimum standard concerning value in production, use, and exchange the definitions, representations, models, and valuations of the world economy vary widely.  It is inseparable from the geography and ecology of Earth.
  Title: Post–World War I recession
  Passage: The post–World War I recession was an economic recession that hit much of the world in the aftermath of World War I.  In many nations, especially in North America, this growth continued during World War I as nations mobilized their economies to fight the war in Europe.  After the war ended, the global economy began to decline.  In the United States, 1918–1919 saw a modest economic retreat, but the next year saw a mild recovery.  A more severe recession hit the United States in 1920 and 1921, when the global economy fell very sharply.
citations: South Asian Association for Regional Cooperation 19th SAARC summit