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Top economies by year (Video)

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https://www.reddit.com/r/dataisbeautiful/comments/9tvtwt/world_gdp_by_country/

Interesting video. The most shocking part for me is that Mexico had a larger economy than China at one point.



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I wonder when China will pass the USA.



XD84 said:
I wonder when China will pass the USA.

In terms of purchasing power parity, china is ahead of the USA.

In terms of actual just cold hard numbers...... probably sometime before 2030.



Cool video!

 

XD84 said:

I wonder when China will pass the USA.

You should be asking "if" rather than "when".  All throughout the 80's people were anticipating that Japan would eventually pass the USA.  Obviously that didn't happen. 

There is more to economics than just follow two regression curves and seeing where they intersect.  China has deeper issues that the US doesn't have.  For example, entrepreneurship, and the associated creativity and risk taking, is valued much more in the US than in China.  That is one of several factors working against China.  On the other hand China has a lot of people and may pull ahead just playing "catch up" and getting per capita incomes to a decent level (though still below US, Japan, Western Europe, etc...).  It will be interesting to see how it actually turns out.



Looks like India will be ahead of the UK sometime in 2019.



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Why did Germany join in so late? (1971)

Edit: And the Soviet Union is also missing from that graph because the Soviet Union used to be second/ third place until its end.



I do like the US in the top 5 but i do not mind others crossing them or having about the same strenght on an economical level



This video really shows us how good of a time we live in, assuming you consider economic prosperity to be a good thing.



JRPGfan said:
XD84 said:
I wonder when China will pass the USA.

In terms of purchasing power parity, china is ahead of the USA.

In terms of actual just cold hard numbers...... probably sometime before 2030.

The data is already given in dollars. What does purchasing power parity have to do with it?



The_Liquid_Laser said:

Cool video!

 

XD84 said:

I wonder when China will pass the USA.

You should be asking "if" rather than "when".  All throughout the 80's people were anticipating that Japan would eventually pass the USA.  Obviously that didn't happen. 

There is more to economics than just follow two regression curves and seeing where they intersect.  China has deeper issues that the US doesn't have.  For example, entrepreneurship, and the associated creativity and risk taking, is valued much more in the US than in China.  That is one of several factors working against China.  On the other hand China has a lot of people and may pull ahead just playing "catch up" and getting per capita incomes to a decent level (though still below US, Japan, Western Europe, etc...).  It will be interesting to see how it actually turns out.

It is not as easy. In the video China looked smaller than it was for a long time, simply because the video measured GDP in Dollar, and the Yuan was heavily undervalued to the Dollar. As JRPGfan points out, it still is and in terms of PPP (what the currency actual can buy instead of exchange values) China is ahead of the US for quite some time now.

You're right that China has issues. But the US does too. The issues for China are, that because of the One-child policy it's population is growing older very fast. US issues include, that they produce not very much themself, but are economically strong for connections with other countries. In fact the economy of China and the US are strongly entangled.



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