2014 World GDP Rank: 1 U.S, 2 PRC, 3 Japan

[The_Sidewinder]

:sigh: we are so poor. Can't even beat the island that colonized us.

Really man, No 9 Sucks. Hopefully we can climb to top 5 within next 5 years. In Modi I trust.

 

[cnleio]

OK, Thank You Very Much mate.

U r welcome ! I add whole sectors ratio inside China GDP.

 

[Echo_419]

China, Korea, India, etc are all starting from nearly nothing. When the domestic war ended in 1949, China was a total mess. We haven't inherited excellent railway system or other infrastructure and most treasury and elites were sent to Taiwan. That's why we need to work harder than anyone else.

That's a shit excuse look at the Koreans & even at yourself
India needs to work very hard though

 

[The_Sidewinder]

This is the real ranking.
Chinese members here, don't get delusional of where we are and pls work harder. Self-content is the most dangerous mentality.
And also our manufacturing value-added per capita is relatively small. There is distance and there is room for growth.
View attachment 216318

Surprised to see China well below. Really population becomes a great hindrance in improvement of Value added per capita

That's a shit excuse look at the Koreans & even at yourself
India needs to work very hard though

Rightly said

 

[Echo_419]

Surprised to see China well below. Really population becomes a great hindrance in improvement of Value added per capita


Rightly said

With modi at helm for next 10 years we will surely reach top 5

 

[The_Sidewinder]

With modi at helm for next 10 years we will surely reach top 5

Aye Aye to that.

 

[AndrewJin]

India needs to work very hard though

Really population becomes a great hindrance in improvement of Value added per capita

Population can be bonus or hindrance. How to increase productivity per capita is the most important issue for India and China. Yes, any index about per capita of India and China is not good. Even China has a huge network of HSR and control-access expressway, mileage per capita is really short. This means we have great potential and now we both should take full use of it!

 

[The_Sidewinder]

Population can be bonus or hindrance. How to increase productivity per capita is the most important issue for India and China. Yes, any index about per capita of India and China is not good. Even China has a huge network of HSR and control-access expressway, mileage per capita is really short. This means we have great potential and now we both should take full use of it!

Agreed fully. Maybe with further co operation between the two countries this can be achieved at a quicker pace.,

 

[cnleio]

According to 2014 world GDP rank, it seems the doorsill of Top10 is about 2,000billion USD ... now here Asia nations r China / Japan / India / Russia, West nations r U.S / Germany / U.K / France / Italy ... next 10 years Australia, S.Korea, Indonesia, Turkey will has chance into Top10 GDP club. Work Hander ... it's true the rich moving from the West to the East.

Of course, PEACE is the 1st important thing for our developing nations.

 

[Shotgunner51]

@Shotgunner51 He knows a lot about service sector.

Well ... seriously, im not good at the economy, but i can try to search the data of China manufacturing sector.
Now in China the manufacturing sector is the 1st biggest, service sector is the smallest but P.M Li's government try to improve our service business ... so next years i think China will fouse on developing service sector inside China.

For China nowadays, there are two pillars of economy - Manufacturing, and Infrastructure - both tops the world in absolute size, however there are still rooms to grow given low capita figures and will continue to be main drivers of the economy.

About service sectors, and consumption, I am very conservative:

1) Cultural/Social factor. The advanced economies in East Asia have low consumption (a GDP factor), high savings (not a GDP factor), relative to high consumption, low savings (even debt financed), in other economies. East Asian economies can be wealthy, but not spending to boost GDP. China will not be an exception.

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2) Weak Financial Sector. I have said in other threads, China is having a probably most underdeveloped financial sector in the world, we see tight regulations on financing and start-ups, interests rate dictated by PBOC, outdated Forex policy, backward secondary markets (e.g. stock exchange), limited participation of the private sector, etc. Without an advanced financial sector, capital wouldn't be appropriated efficiently across the society.

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3) Lack of Socialism in Civil Protection. In this regard China is probably one of the most "capitalist" country in the world, emulating the American Free Market model in that sense. The US is unique in its demographics, open-culture and immigration policy, totally different from demographically "closed-system" like other countries e.g. Japan, Taiwan, South Korea, the Nordic countries, Germany. Though China is now massively rebuilding public housing, free healthcare, the reform will take along time given the low base to start with, reaching the level of Hong Kong, Taiwan & South Korea will be the ultimate objective. Only when civil protection is upgraded, China can see improvement in consumption, and service sectors.

4) Taxation Policy Incompatible With Economic Progress. China should seriously revamp and upgrade the existing tax system, which was applicable only to a completely socialist economy at low-income level. Again, despite China has already started on VAT trial, re-engineer the IIT, it will take some years to complete the reform.

And there are others, I can write for the whole afternoon if PM Li wants to read that! Can't say I am pessimistic, but as a career i-banker I don't see consumption, and to some degree service sectors, being the main driver at least in the short future.

 

[xunzi]

Where is the wannabe economic and military powerhouse of Asia? Vietnam i mean

In the Vietnamese imagination, every household stock gold in their house so they got over $1 trillion based on this tale. You didn't know that? LOL

 

[AndrewJin]

According to 2014 world GDP rank, it seems the doorsill of Top10 is about 2,000billion USD ... now here Asia nations r China / Japan / India / Russia, West nations r U.S / Germany / U.K / France / Italy ... next 10 years Australia, S.Korea, Indonesia, Turkey will has chance into Top10 GDP club. Work Hander ... it's true the rich moving from the West to the East.

Of course, PEACE is the 1st important thing for our developing nations.

@ahojunk The number of Australia is really big given her small population!

 

[Indos]

@ahojunk The number of Australia is really big given her small population!

Mining sector is huge there, just like another Saudi Arabia in Far East region. Aussie GDP per capita is greater than USA.

 

[AndrewJin]

Mining sector is huge there, just like another Saudi Arabia in Far East region. Aussie GDP per capita is greater than USA.

All about mining? Isn't it that consumption of raw materials is not so high as before?

 

[Indos]

All about mining? Isn't it that consumption of raw materials is not so high as before?

They do have big manufacturing out put as world bank data reveals even though still lower than Indonesia. Australia is also good in agriculture product (considering their land). With good education system there, it is a hint that they do have big service sector as well.

In general, Australia GDP is increasing so fast after your country and also India grow so fast economically. The current growth maybe not as high as before, but they do benefits from your growth since 2000 ( the moment where oil price is increasing that is followed by commodities price). China is a major trading partner for Australia.