Cold fact: By 2025, the absolute numerical gap between China's and the US's GDP will reach the largest in history, and the GDP share will have dropped from the 75% peak in 2021 to about 64%.
But this GDP no longer has any meaningful comparison. Setting aside exchange rates, it's obvious just from inflation,
From 2021 to 2025, US inflation accumulated 25.4%, and US GDP is calculated using the expenditure approach based on final consumption. Even if the real GDP remains zero over these five years,
GDP growth would still not be less than 25%, but what's the point? China calculates GDP using the production approach based on value added (output minus intermediate inputs).
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Cold fact: By 2025, the absolute numerical gap between China's and the US's GDP will reach the largest in history, and the GDP share will have dropped from the 75% peak in 2021 to about 64%.
But this GDP no longer has any meaningful comparison. Setting aside exchange rates, it's obvious just from inflation,
From 2021 to 2025, US inflation accumulated 25.4%, and US GDP is calculated using the expenditure approach based on final consumption. Even if the real GDP remains zero over these five years,
GDP growth would still not be less than 25%, but what's the point? China calculates GDP using the production approach based on value added (output minus intermediate inputs).