Comparing US State GDPs with countries.

[ArcticGabe]

SamuelRSmith said:

ArcticGabe said:

 

lol, sorry to burst your bubble, but China is going to exceed USA in 2016. That's like 6 years. According IMF.

http://en.wikipedia.org/wiki/List_of_countries_by_future_GDP_(PPP)_estimates

in 30 to 40 years, China's economy gonna triple USA's...

:)

Also this one

http://blog.euromonitor.com/2010/07/special-report-top-10-largest-economies-in-2020.html

China's economy is going to equal USA's in six years? That means it would have to triple in size in six years... yeah, that's not happening.

Even the most optimistic estimates for China's economy exceeding USA's is around 2030... and those always assume that China will be able to have a growth rate of above 8% a year. That's not going to happen, they'll probably be growing at 5-6% by the end of this decade.

If you also factor the huge property bubble which will burst, I don't think we could realistically see China taking USA's position until atleast 2035, 2040... and then when you go by a per capita basis... frankly, it's not going to happen this century.

That's Normal GDP you are talking about, when counting a country's normal GDP, we always convert the country's GDP into US dollar, and some countries' currency are severely under valued. Like the Chinese RMB is about 50% under valued against US Dollar according to US politicans and economists.

For Normal GDP, The growth rate of China is above 10% this year, and if USA don't want to get caught up before 2020, they need to grow 2.5% per year in the next decade...  not gonna happen imo.

So enjoy your last decade of world domination USA, we will have a much more balanced world lead by the peaceful Chinese Dragon very soon.