NS3040 GDP Comparisons

Fall Term, 2015

U.S./China GDP Comparisons I

• In 2013 China became the world’s largest economy

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U.S./China GDP Comparisons II

• Still relative wealth of Americans much higher• GDP per capita in China (2012/2013) is $10/11,000 on a par with

middle income countries like• Romania -- $11,000

• Uruguay -- $12,000

• Turkey -- $13,000• In contrast the US GDP per capita was $45/46,000• While this gap is closing, even if current growth rates continue,

China not expected to overtake U.S. in per capita terms for another decade

• If growth rates drop from 7-8% to 5-6% over the period it may not be until 2050 that China may match U.S. per capita incomes

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U.S./China GDP Comparisons III

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U.S./China GDP Comparisons IV

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EU GDP Revisions

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Shifts in World GDP

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