Truths
JF-Expert Member
- Mar 26, 2017
- 1,494
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GDP of China at PPP: 21 trillion USD
GDP of USA at PPP: 19 Trillion USD
When you talk about the size of the economy, PPP should be the figure that you look at because it takes account of the price and cost of living differences across coutnries.
So while China’s GDP at nominal exchange rates makes it 2nd largest, at purchasing power parity, its economy is larger than not just the US but also the EU.
The estimates are by IMF and other respectable international organizations and the figures are public information. Just Google it. Wikipedia has the info.
GDP of China at PPP: 21 trillion USD
GDP of USA at PPP: 19 Trillion USD
When you talk about the size of the economy, PPP should be the figure that you look at because it takes account of the price and cost of living differences across coutnries.
So while China’s GDP at nominal exchange rates makes it 2nd largest, at purchasing power parity, its economy is larger than not just the US but also the EU.
The estimates are by IMF and other respectable international organizations and the figures are public information. Just Google it. Wikipedia has the info.