China collapses without western money. If America goes down, who will buy China’s cheap goods?
Does GDP really matter, when we’re untold TRILLIONS in debt? So much so that we’ll NEVER climb out of it? Never. Ever.
Does China carry a lot of debt? I never looked...
On my most recent visit to Guangzhou (2018) the streets were lined with glass and steel skyscrapers and during rush hour one saw bumper to bumper traffic of Toyotas.Hyundais and Buicks (yes,Buicks).
Every time we buy some cheap piece of Chinese cr@p China's military gets stronger...much stronger.
I don’t see how China could lead the world. China steals all its innovative technologies and intellectual property from the United States.
Further, China cannot feed its own people.
I think real per capita GDP is a much better indicator of economic power. Subtract the impact of inflation on GDP and look at output per person is a much more reliable measure of productivity and standards of living. India has a population of about 1.25 billion people and Japan has a population of 125 million. Their projected GDPs are about the same which suggests that the standard of living on average will still be ten times higher for the average Japanese citizen compared to the average Indian citizen.
Yes China and India have seen annual economic growth rates that are almost unprecendented in world economic history-but only because they started out so low. It is what economists
call the catch-up effect. The article does mention population growth, age distribution and so forth which are also important.
I think that the EU will be in second place after China if it survives the sanctions trap set for it by the US.
Funny. I don’t see Russia anywhere on that list.
As of 2022, the USA produces 3.6X times more GDP per capita than China.
Since the USA has deliberately imported millions of low skill workers and their dependents, that is a pretty amazing statistic.
“China has maintained its positive GDP growth due to the stability provided by domestic demand.”
What a load of ignorant BS. After 2008, China printed an enormous amount of yuan, pumping that money into building ghost cities, plants they didn’t need capacity, etc. All those non productive assets only temporarily boost GDP but those chickens are coming home to roost. 39% of China’s GDP is real estate. China biggest real estate developer just went bankrupt. There are an enormous amount of bad loans tied to junk real estate. Reminds me of 1980’s Japan, where value of all land had a paper vale of 4 times all the land in the US, a country 25X larger. That bubble popped hard and it took Japan more than a decade recover.
Part of the picture is missing because of the populations. Shown another way, the money per person will be greater in the US. Thus the actual valuation of an economy can be seen in different ways. The Chinese will still be poorer than Americans, by (buy) and large.