Post by account_disabled on Feb 22, 2024 3:00:54 GMT -5
What is China's economic future? Will it become a high-income economy, and therefore inevitably the world's largest, over a long period of time, or will it become trapped in the “middle-income” trap, with growth comparable to that of the United States? This is a vital question for the future of the world economy. Nor is it any less vital for the future of global politics. The implications can be seen quite simply. According to the IMF, China's gross domestic product per capita (measured in purchasing power) was 28 percent of US levels in 2022. This is almost exactly half of Poland's relative GDP per capita. It also places China's GDP per capita at 76th in the world, between Antigua and Barbuda, at the top, and Thailand, at the bottom.
However, despite its relative poverty, China's GDP (measured in this way) is the largest in the world. Now suppose that its relative GDP per capita doubled to equal that of Poland. Then its GDP Pakistan Phone Number would be more than double that of the United States and larger than that of the United States and the EU combined. You are viewing a snapshot of an interactive chart. This is most likely because you are not logged in or JavaScript is disabled in your browser. Size Matters. China will surely remain a highly populated country for a long time. In, for example, according to the UN, there will still be 1.3 billion inhabitants. So the question about China's future in the world can be posed as follows: can it achieve the same level of prosperity relative to the United States that Poland already has? That would be a further doubling of its relative GDP per capita.
This really going to be that difficult? Before concluding that this will be the case, it is worth noting that China's GDP per capita, relative to the United States, rose from 2 percent to 28 percent of US levels in from . This is little less than four duplications. Is another doubling in, say, 20 years inconceivable? You are viewing a snapshot of an interactive chart. This is most likely because you are not logged in or JavaScript is disabled in your browser. A comparison might help answer this question. One country that has come close to matching China's performance in the post-World War II era is South Korea. In the early 1960s, its GDP per capita was about 9 percent of American levels. It took about a quarter of a century for China from 1980 to reach this point. Korea reached 28 percent of the levels of the United States, where China is now located, in.
However, despite its relative poverty, China's GDP (measured in this way) is the largest in the world. Now suppose that its relative GDP per capita doubled to equal that of Poland. Then its GDP Pakistan Phone Number would be more than double that of the United States and larger than that of the United States and the EU combined. You are viewing a snapshot of an interactive chart. This is most likely because you are not logged in or JavaScript is disabled in your browser. Size Matters. China will surely remain a highly populated country for a long time. In, for example, according to the UN, there will still be 1.3 billion inhabitants. So the question about China's future in the world can be posed as follows: can it achieve the same level of prosperity relative to the United States that Poland already has? That would be a further doubling of its relative GDP per capita.
This really going to be that difficult? Before concluding that this will be the case, it is worth noting that China's GDP per capita, relative to the United States, rose from 2 percent to 28 percent of US levels in from . This is little less than four duplications. Is another doubling in, say, 20 years inconceivable? You are viewing a snapshot of an interactive chart. This is most likely because you are not logged in or JavaScript is disabled in your browser. A comparison might help answer this question. One country that has come close to matching China's performance in the post-World War II era is South Korea. In the early 1960s, its GDP per capita was about 9 percent of American levels. It took about a quarter of a century for China from 1980 to reach this point. Korea reached 28 percent of the levels of the United States, where China is now located, in.