Due to the pandemic, China contributes 46.4% of global economic growth in the past 2 years (from 2019 to 2021)! (country, salary)

[Daywalk]

WOW, basically China dominates global economic growth for the past 2 years!

From 2019 to 2021, global GDP (PPP) grew by only US$7,178 billion (from US$134,784 billion to US$141,962) due to the pandemic.
China grows by US$3,333 billion (from US$23,324 billion to US$26,657 billion) from 2019 to 2021, contributing 46.4% of global economic growth!

Top 10 countries by contribution to global economic growth (GDP (PPP)) from 2019 to 2021
01. China : US$3,333 billion (46.4% of global economic growth)
02. United States : US$1,242 billion (17.3%)
03. India : US$645 billion (9.0%)
04. Turkey : US$278 billion (3.9%)
05. European Union : US$179 billion (2.5%)
06. Indonesia : US$175 billion (2.4%)
07. Russia : US$153 billion (2.1%)
08. Taiwan : US$143 billion (2.0%)
09. South Korea : US$132 billion (1.8%)
10. Vietnam : US$132 billion (1.8%)
Rest of the world : US$766 billion (10.7%)


Sources:
IMF data for all countries:
https://www.imf.org/en/Publications/...ntry&ds=.&br=1
IMF data for the World and the European Union: https://www.imf.org/en/Publications/...ntry&ds=.&br=1

[Greysholic]

Europe is so ****ed

[La-Jolla]

Originally Posted by Greysholic

Europe is so ****ed

Have you ever been to Europe? It's full of folks who total more yearly strike than work hours. It's a miracle they produce enough to not starve.

[Daywalk]

Originally Posted by Greysholic

Europe is so ****ed

Yea, even though the U.S. and India have been devastated by the pandemic, their economies are still overall relatively holding or maintaining their pre-pandemic position (sure the U.S. have been printing a lot of money but most countries have been doing the same thing for past year anyways)

But for Europe… both their economies AND pandemic outbreak are equally horrible, which is just beyond sadness.

[Dd714]

Europe is really in bad shape indeed. Working for a European country, my calls with the global teams are depressing, and Covid is still hitting them hard. Some Europen countries were in double digit unemployment even before the pandemic.

China - a caveat here is that we really don't know how well they are doing, as it's all reported by the government with little review from independent agencies. Granted there centralized authoritative approach has helped them during the pandemic and managing the economy.

[maomao]

Originally Posted by Dd714

Europe is really in bad shape indeed. Working for a European country, my calls with the global teams are depressing, and Covid is still hitting them hard. Some Europen countries were in double digit unemployment even before the pandemic.

China - a caveat here is that we really don't know how well they are doing, as it's all reported by the government with little review from independent agencies. Granted there centralized authoritative approach has helped them during the pandemic and managing the economy.

so is every other country reporting their own numbers, there is no worldwide "independent agencies" for this type of stuff.

[Tomboy-]

Chinese staff of businesses are good at increasing their numbers of customers. They are not paid a fixed salary so they have high work incentives. Chinese peasants earn more when they sell more food. Money is viewed importantly in china. These are the reasons for the high growth of the Chinese economy.