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Old 10-12-2022, 09:12 PM
 
Location: Taipei
8,864 posts, read 8,438,262 times
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Quote:
Originally Posted by Daywalk View Post
If you want to measure a country's contribution to global economic growth, you must use change in or incremental PPP, nominal GDP over the years just can't be used to measure economic growth because it's easily influenced by exchange rates.
Exchange rates is integral to a country's economy so no, only nominal GDP matters. PPP is compiled for poor countries to feel better about themselves.
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Old 10-13-2022, 12:38 AM
 
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Quote:
Originally Posted by Greysholic View Post
Exchange rates is integral to a country's economy so no, only nominal GDP matters. PPP is compiled for poor countries to feel better about themselves.
I partly agree but I would say that nominal GDP is good for measuring a country's overall economic power at a global stage, whereas
but on a per capita basis or economic growth, GDP (PPP) is definitely the way to go, since PPP takes into account purchasing power at local level for an average individual.

Besides, if you look at nominal GDP, Iran's size has been growing "exponentially" in recent years overtaking even Brazil, Italy, South Korea, Australian and Spain... are you sure you still want to go by nominal GDP?

https://www.imf.org/en/Publications/...ntry&ds=.&br=1
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Old 10-15-2022, 11:46 AM
 
Location: Taipei
8,864 posts, read 8,438,262 times
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Quote:
Originally Posted by Daywalk View Post
Besides, if you look at nominal GDP, Iran's size has been growing "exponentially" in recent years overtaking even Brazil, Italy, South Korea, Australian and Spain... are you sure you still want to go by nominal GDP?
That's only because IMF uses Iran's "official" exchange rate which has no bearing on realism. Using the real market exchange rate, Iran's economy is tiny. Nominal GDP definitely reflects the reality more such as Japan and Europe's decline and America's dominance.

For example, Turkey's PPP per capita is higher than European countries like Slovakia and Greece, but the Turkish economy is a complete mess. That's enough to tell you how inaccurate PPP is.
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Old 10-15-2022, 11:21 PM
 
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Quote:
Originally Posted by Greysholic View Post
That's only because IMF uses Iran's "official" exchange rate which has no bearing on realism. Using the real market exchange rate, Iran's economy is tiny. Nominal GDP definitely reflects the reality more such as Japan and Europe's decline and America's dominance.

For example, Turkey's PPP per capita is higher than European countries like Slovakia and Greece, but the Turkish economy is a complete mess. That's enough to tell you how inaccurate PPP is.
I understand, but you cannot really measure GDP growth using nominal levels at all. I think nominal GDP is useful mostly to compare economic power of different countries at international level, but as you mentioned, for those that have cut themselves off from the global system such as Iran and now increasingly Russia, we can only use Official exchange rates because the “real” or black market ones might be hard to ascertain.
Turkey’s economy is expected to grow by 5% in 2022, which is quite impressive. I think they suffer from inflation which of course hurt their economy but they are still doing well locally
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Old 10-20-2022, 08:39 PM
 
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Quote:
Originally Posted by Greysholic View Post
That's only because IMF uses Iran's "official" exchange rate which has no bearing on realism. Using the real market exchange rate, Iran's economy is tiny. Nominal GDP definitely reflects the reality more such as Japan and Europe's decline and America's dominance.

For example, Turkey's PPP per capita is higher than European countries like Slovakia and Greece, but the Turkish economy is a complete mess. That's enough to tell you how inaccurate PPP is.
Let's then compare the Nominal GDP value of China and the United States using GDP (Nominal) values...
I will use absolute figures instead of (so that comparison sort of helps the U.S. as growth % would definitely have been higher for China)

In 1992
United States: US$6.520 trillion
China: US$0.492 trillion
United States' GDP is larger than China's by US$6.028 trillion

In 2002
United States: US$10.929 trillion
China: US$1.466 trillion
United States' GDP is larger than China's by US$9.463 trillion

In 2012
United States: US$16.254 trillion
China: US$8.540 trillion
United States' GDP is larger than China's by US$7.714 trillion

In 2022
United States: US$25.035 trillion
China: US$18.321 trillion
United States' GDP is larger than China's by US$6.714 trillion

In 2027 (projection)
United States: US$30.282 trillion
China: US$26.432 trillion
United States' GDP is larger than China's by US$3.844 trillion


It seems the U.S. was sort of slowed the narrowing of the gap in the past 10 years (mostly due to the depreciation of Yuan several times) but China is expected to accelerate in closing the gap in the next 5 years, but of course we will see whether that's the case 5 years from now.


https://www.imf.org/en/Publications/...ntry&ds=.&br=1
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Old 10-21-2022, 11:07 AM
 
Location: Taipei
8,864 posts, read 8,438,262 times
Reputation: 7414
Quote:
Originally Posted by Daywalk View Post
Let's then compare the Nominal GDP value of China and the United States using GDP (Nominal) values...
I will use absolute figures instead of (so that comparison sort of helps the U.S. as growth % would definitely have been higher for China)

In 1992
United States: US$6.520 trillion
China: US$0.492 trillion
United States' GDP is larger than China's by US$6.028 trillion

In 2002
United States: US$10.929 trillion
China: US$1.466 trillion
United States' GDP is larger than China's by US$9.463 trillion

In 2012
United States: US$16.254 trillion
China: US$8.540 trillion
United States' GDP is larger than China's by US$7.714 trillion

In 2022
United States: US$25.035 trillion
China: US$18.321 trillion
United States' GDP is larger than China's by US$6.714 trillion

In 2027 (projection)
United States: US$30.282 trillion
China: US$26.432 trillion
United States' GDP is larger than China's by US$3.844 trillion


It seems the U.S. was sort of slowed the narrowing of the gap in the past 10 years (mostly due to the depreciation of Yuan several times) but China is expected to accelerate in closing the gap in the next 5 years, but of course we will see whether that's the case 5 years from now.


https://www.imf.org/en/Publications/...ntry&ds=.&br=1
No one with a brain expects China to ever surpass the US at this point. China's growth era is over. The recent US-led tech sanctions is the final nail on the coffin.
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Old 10-24-2022, 09:52 AM
 
Location: Metro Phoenix
11,039 posts, read 16,854,315 times
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Quote:
Originally Posted by Greysholic View Post
No one with a brain expects China to ever surpass the US at this point. China's growth era is over. The recent US-led tech sanctions is the final nail on the coffin.
Yup. The party's over... So to speak.

Anyone who is still projecting that China is going to deftly overtake the US in the coming years is stuck on pre-pandemic data provided by the CCP and blasted by foreign media controlled by entities that had money tied up in Chinese investments. It's been inflated for years, but for anyone who's paying attention, it's pretty clear what's up.
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Old 04-11-2023, 11:07 AM
 
2,973 posts, read 1,973,370 times
Reputation: 1080
The following 20 countries are the world's biggest economic growth contributors from 2021 to 2028 in GDP (PPP) according to IMF's database released in April 2023.

Top 20 countries with % of global economic growth in GDP (PPP) from 2021 to 2028
01. China - 22.04%
02. United States - 11.99%
03. India - 11.87%
---. European Union - 11.57%
04. Indonesia - 3.44%
05. Germany - 2.20%
06. Japan - 2.17%
07. Türkiye - 2.15%
08. Brazil - 1.82%
09. United Kingdom - 1.68%
10. France - 1.64%
11. Russia - 1.59%
12. Egypt - 1.52%
13. Bangladesh - 1.46%
14. Saudi Arabia - 1.45%
15. Mexico - 1.43%
16. South Korea - 1.43%
17. Vietnam - 1.42%
18. Italy - 1.25%
19. Philippines - 1.19%
20. Spain - 1.14%
Rest of the World - 25.14%

These 20 countries account for about 74.86% of global economic growth from 2021 to 2028.

About 60.9% of global economic growth come from these 5 major economic powers: China / United States / India / European Union / Indonesia
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Old 04-13-2023, 02:00 PM
 
Location: SE UK
14,820 posts, read 12,017,825 times
Reputation: 9813
Quote:
Originally Posted by Rosier View Post
Can we stop treating Europe like it’s a country? That’s something to make Germans, French, etc, feel better about not being able to compete individually with the likes of the US.
You mean countries half the size of single American states?

At least the French can feel all superior to Luxembourg though eh!
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Old 04-14-2023, 06:16 AM
 
Location: SE UK
14,820 posts, read 12,017,825 times
Reputation: 9813
Quote:
Originally Posted by Rosier View Post
The average European country has more people and yet lower GDPs per capita and rates of economic growth than the majority of American states
Yes but they are NOT benefitting from being part of the same sovereign nation though are they? Besides surely that depends on the country and the state no? Monaco has the worlds highest GDP per capita followed by Liechtenstein, Luxembourg, Ireland, Switzerland and Norway. I wonder what Switzerlands GDP is in comparison to West Virginia?
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