China's 2021 GDP might exceed 17.5 trillion dollar

[Stranagor]

Nominal GDP is not as good a measure as PPP adjusted GDP. PPP adjusted GDP is a truer measure.

Almost all international commodities are priced in USD - except cases of bilateral trade agreements such as between Russia and China.

 

[Shotgunner51]

Nominal GDP is not as good a measure as PPP adjusted GDP. PPP adjusted GDP is a truer measure.

All are approximate measures only, note that GDP is an invented formula not a natural unit like tons of steel produced or kW of electricity generated. Moreover despite there's IMF standards like SNA2008, there exist different practices say in US they include imputations into GDP measure.

Nominal means when GDP in different currencies are converted to one single "international" currency (e.g. USD, SDR or whatever) for comparison, it's by nature inaccurate because currency exchange rate is not always reflective of economic fundamentals, it's subject to market speculation, monetary policies or even politics.

But neither is PPP accurate, it's hard to apply an universal adjustment formula to different economies where people have very different consumption baskets.

 

[Daniel808]

What's your take on current situation bro? @Shotgunner51 with US keep printing USD & rising inflation there. And with China's Economy future potential in this decade (2020-2030)


Would be nice to hear your opinion bro

 

[Shotgunner51]

What's your take on current situation bro? @Shotgunner51 with US keep printing USD & rising inflation there. And with China's Economy future potential in this decade (2020-2030)


Would be nice to hear your opinion bro

Bro that's quite broad a topic! Anyway I'm quite confident China's dominance in techs (*see WIPO 2021), industrial capacity and supply chain will be more overwhelming by 2030, and so is the overall competitiveness of China's economy. Hi-end manufacturing will continue to be core pillar of Chinese economy, and is increasingly intelligent & automated (**China is adding far more industrial robots than other countries every year, expecting to reach automation levels of SK/SG/JP/DE by 2030).

While industrial base is getting automated, more people will pursue career in the services sector, which will carry a heavier weight in overall economy. I think latest by by 2030 China will replace US as world's largest economy (measured in nominal GDP), and more importantly from financial perspective China (without including HK/MC/TW) can replace Japan as world's top creditor nation, i.e. China is somewhat closer to become a "medium-developed" country.

 

[Daniel808]

Expected to reach 9.5% growth this year

https://twitter.com/x/status/1469582853214449665

Bro that's quite broad a topic! Anyway I'm quite confident China's dominance in techs (*see WIPO 2021), industrial capacity and supply chain will be more overwhelming by 2030, and so is the overall competitiveness of China's economy. Hi-end manufacturing will continue to be core pillar of Chinese economy, and is increasingly intelligent & automated (**China is adding far more industrial robots than other countries every year, expecting to reach automation levels of SK/SG/JP/DE by 2030).

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While industrial base is getting automated, more people will pursue career in the services sector, which will carry a heavier weight in overall economy. I think latest by by 2030 China will replace US as world's largest economy (measured in nominal GDP), and more importantly from financial perspective China (without including HK/MC/TW) can replace Japan as world's top creditor nation, i.e. China is somewhat closer to become a "medium-developed" country.

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Very well said bro, thank you