China has overtaken the US as the world's richest country
- Thread starter Ahmed Ato
- Start date
China already owned 1.1 trillion in US debt.
China passed the USA as the official richest country in the world years ago they just donβt tell you.
Whatβs measured to compare the economies of China and the US is nominal GDP which is in essence the magnitude of their economies. In this field itβs USA roughly $19 trillion and China roughly $14 trillion.
However this isnβt an accurate and disproportionately favours wealthier nations over second/third class nations since the value of money is much lower in these countries meaning $1 in each country has different value. To top it off China is already known to artificially lower the value of their currency to stay competitive in global trade making the value of money in each country even more different.
A more accurate measurement that takes into account the value of money in each nation is accounting for a countries Purchasing power parity which essentially cancels out the costs of goods in each country revealing the true size of their economies on a level scale. In terms of Purchasing power parity, China has been ahead of the US for quite some time now. Officially passed in 2017 with many speculating much more longer than that. Last I remeber I believe purchasing power parity in US was $21 trillion wheras in China it was $23 trillion. This gap is drastically increasing
Hereβs a good article to read regarding this
www.google.co.uk
Whatβs measured to compare the economies of China and the US is nominal GDP which is in essence the magnitude of their economies. In this field itβs USA roughly $19 trillion and China roughly $14 trillion.
However this isnβt an accurate and disproportionately favours wealthier nations over second/third class nations since the value of money is much lower in these countries meaning $1 in each country has different value. To top it off China is already known to artificially lower the value of their currency to stay competitive in global trade making the value of money in each country even more different.
A more accurate measurement that takes into account the value of money in each nation is accounting for a countries Purchasing power parity which essentially cancels out the costs of goods in each country revealing the true size of their economies on a level scale. In terms of Purchasing power parity, China has been ahead of the US for quite some time now. Officially passed in 2017 with many speculating much more longer than that. Last I remeber I believe purchasing power parity in US was $21 trillion wheras in China it was $23 trillion. This gap is drastically increasing
Hereβs a good article to read regarding this
China ranks No 1 in buying power, but still clings to developing status
China says it is still the worldβs largest βdevelopingβ country, despite a World Bank report showing it is the No 1 economy in the world when based on purchasing power parity.
www.google.co.uk
Ahmed Ato
Self-interest
You're correct but this is about wealth not GDP.China passed the USA as the official richest country in the world years ago they just donβt tell you.
Whatβs measured to compare the economies of China and the US is nominal GDP which is in essence the magnitude of their economies. In this field itβs USA roughly $19 trillion and China roughly $14 trillion.
However this isnβt an accurate and disproportionately favours wealthier nations over second/third class nations since the value of money is much lower in these countries meaning $1 in each country has different value. To top it off China is already known to artificially lower the value of their currency to stay competitive in global trade making the value of money in each country even more different.
A more accurate measurement that takes into account the value of money in each nation is accounting for a countries Purchasing power parity which essentially cancels out the costs of goods in each country revealing the true size of their economies on a level scale. In terms of Purchasing power parity, China has been ahead of the US for quite some time now. Officially passed in 2017 with many speculating much more longer than that. Last I remeber I believe purchasing power parity in US was $21 trillion wheras in China it was $23 trillion. This gap is drastically increasing
Hereβs a good article to read regarding this
China ranks No 1 in buying power, but still clings to developing status
China says it is still the worldβs largest βdevelopingβ country, despite a World Bank report showing it is the No 1 economy in the world when based on purchasing power parity.
China's GDP PPP overtook US in 2014.
Bundasliga
VIP
Good question
I think suicide is big in China.
China is gonna take over in 15 years max. They're getting very aggressive with Taiwan. They are committing war crimes and the world ain't doing shit. They own a lot of the world's debt. They are just saying fk off to a lot of globalist organizations and meetings, case in point COP26. China is going to get a lot more economically aggressive and militaristic in the coming years.
Per capita is what matters.
The average person in China still lives like shit by Western standards.
Furthermore, within the next few decades, more nations will distance themselves from China.
Right now, most nations that are friendly with China do so because of Chinaβs money, which they hand out in order to gain popularity. Once they do that, their popularity will decline as countries will have no incentive to defend China whenever they f*ck up.
Rather ironic really.
The average person in China still lives like shit by Western standards.
Furthermore, within the next few decades, more nations will distance themselves from China.
Right now, most nations that are friendly with China do so because of Chinaβs money, which they hand out in order to gain popularity. Once they do that, their popularity will decline as countries will have no incentive to defend China whenever they f*ck up.
Rather ironic really.
