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Thought of the Day
Living in China's Shadow
Why China will dwarf the US in under a decade
6 November 2024
Chinese GDP will be more than double that of the US in under a decade, if recent growth rates persist. Economic activity in China is almost certainly already approximately 33% larger than in the USA.
China vs. United States
% Share of Global GDP
* GDP in
Purchasing Power Parity
terms with added estimates for the size of the
informal economy
and adjustments for out-of-date
GDP base year
data.
Few investment portfolios, business plans or government calculations reflect the large and growing dominance of Chinese economic activity, mostly because of the inappropriate use of market prices to assess the relative size of economic activity, the omission of key data on the shadow economy, and calculating GDP from outdated base years.
See more on China...
More perspectives using World Economics data
Asia Dominates...Africa Grows...Europe Shrinks
Whether collectively called Africa and Asia, the Global South, developing countries, or simply the poorer parts, there is no doubt that in population terms they dominate the world. Asia already accounts for around 60% of the world's population. By 2050 Africa's high fertility rates are likely to mean over a quarter of the world's population lives there. Africa and Asia are already home to over three-...
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East Asia’s Economic Miracle
The economic performance of East Asia, led by China, has been remarkable in the past decade. From 2013 to 2023, East Asia contributed 42.2% of all global GDP growth (30.9% from China alone), more than double the share of any other region. The broader Asia-Pacific region showed impressive dynamism, accounting for 69.9% of the world’s economic expansion. Note: CAGR is calculated from GDP in Purchasi...
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Poor Governance in the Global South
The Global South does not shine as a beacon of Good Governance. In the World Economics Global Governance rankings, the South registers badly, with only two countries (out of 99) rated A grade, only 14 countries rated as B Grade, and 54 rated D (poor) or E grade (pretty awful). The Global Governance Index combines the results of the independently generated Rule of Law Index (1); Press Freedom Index (...
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