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at places like the G8, G20, G8+5 meetings which countries are given highest priority, are discussed the most ?
the main categories I'd use are
1 total nominal gdp
2 total trade (exports + imports) but exports being the more important catagory
3 gdp per capita
4 how reliant the world's biggest economies (US, EU, China in that order) are on them for trade
5 oil reserves, petroleum, natural gas, freshwater
6 gdp growth (and how sustainable that growth is, for example China might not have enough land and resources to support a country full of people living like they do in the US).
7 military, nuclear technology and capability
8 population
9 debt
10 gold and silver reserves
according to all of that it should be
1 US (highest gdp per capita among G8 countries, largest trading partner of the EU, Japan, largest export destination for China, nuclear arsenol, nuclear technology, lots of reactors, nafta guarantees it access to Canada's oil (which won't run out of oil until over 100 years after Saudi Arabia does), best universities, but lots of debt, low gdp growth, no gold and silver in reserves, currency going down in value).
2 China (ranked 3rd overall in exports, nominal gdp is almost 2nd largest, high gdp growth, lots of people but running out of water, oil, other resources fast, gdp per capita is only a bit higher than developing nations)
3 Japan (top 4 trading nation, 2nd largest nominal gdp, high gdp per capita, not a lot of freshwater or other resources, strong military)
4 Germany (largest economy of the EU (which has a gdp higher than the US), lots of trade, high gdp per capita, currency is strong)
5 France (France and the UK are similar but France has larger exports and imports, similar gdp, France has a better postion within the EU and uses the Euro
6 UK
7 Italy (gdp is big enough to ensure it stays ahead of the next 3 or 4 countries even the ones that are growing fast (Russia, Brazil, India) for awhile, top 8 in total trade, high gdp per capita, not a lot of gdp growth)
8 Canada (exports are about the same as the UK, top 8 nominal gdp (or very close), gdp per capita higher than Australia, France, UK, top 2 oil reserves, top 5 freshwater, top 10 billionaires, top 9 total trade, US economy relies more on Canada than China and Japan (or Mexico) combined, nuclear capability is very high India, China, South Korea, Pakistan all make nuclear power using Canadian candu nuclear reactors)
9 Russia (high gdp growth rate but low gdp per capita, lots of people, total trade is ranked 10-14, large nuclear arsenal but technology, weapons, and reactors might be old)
10 Spain (top 8 nominal gdp, high gdp per capita, exports are low but imports are high (total trade lower than Russia)
11 India (lots of people, high gdp growth but doesn't trade a lot and has low gdp per capita, nominal gdp is still a lot lower than Spain and Canada, needs more resources like water)
12 Brazil (lots of people but not overpopulated like China and India, low gdp per capita, high gdp growth, exports more than countries like India and Australia)
13 South Korea (trades a lot (exports more than Russia), nominal gdp almost 1 trillion dollars, population is not too high, growth is sustainable, could benefit a lot from China's growth).
14 Netherlands (nominal gdp almost 1 trillion dollars, exports more than 3 G8 countries (UK, Canada, and Russia), gdp per capita is very high but population is very small).
15 Australia (nominal gdp is almost 1 trillion dollars, doesn't export a lot (about a third as much as Canada), very high gdp per capita, could benefit from China's growth)
That's all well and fine if you simply focus on $$$. The New York Times has a series of articles running on the environmental disaster that is today's China. An estimated 750,000 Chinese die every year from causes directly related to pollution.
The article[s] go on to say that economic gains balanced against the cost of the environmental disaster=a net profit of nil.
You might find more people willing to discuss this in the Business/Finance/Investing forum. This one seems to be more laid back in discussions.
that's not the only thing that matters though
for example if you ignore population the Netherlands is much more important to the world economy than Brazil. Canada and Spain have the same nominal gdp (switch places every 2nd year for the last 10 years) but Canada has 3 times more oil than Russia, trades almost as much as the UK (Spains exports are about half of Canada's), gdp alone doesn't give the whole picture, unless one country is a lot bigger than the next (for example Italy and Spain).
that's not the only thing that matters though
for example if you ignore population the Netherlands is much more important to the world economy than Brazil. Canada and Spain have the same nominal gdp (switch places every 2nd year for the last 10 years) but Canada has 3 times more oil than Russia, trades almost as much as the UK (Spains exports are about half of Canada's), gdp alone doesn't give the whole picture, unless one country is a lot bigger than the next (for example Italy and Spain).
It's true but the title of the thread says 'right now". So, instead of you extract all the canada's oil today and find buyers, it cannot be taken into account.
You might find more people willing to discuss this in the Business/Finance/Investing forum. This one seems to be more laid back in discussions.
again, it's right now, the figures you brought are the ones of 2007. I know what you think the things cannot change in just one year ! You'd be right in another context, but regarding the values of the $ the £ and the €, I can say that all the countries who have adopted the € have gained more money than usual. It means, that today the Eurozone (not EU) has got a bigger economy than the US and France is over UK.
It's true but the title of the thread says 'right now". So, instead of you extract all the canada's oil today and find buyers, it cannot be taken into account.
it does have buyers (for example the US is looking to Canada to make up the drop in oil production in Mexico) but it takes time to get all the oil drilling machines moved into the right places and producing the oil and other petroleum products. by 2015 the country is expecting to triple oil production.
At the rate at which they are producing oil Mexico will run out in 10 years and the US in 12 years, Nigeria is being pressured to produce more oil and if they do their reserve life would be even lower than 43 years.
Of the top 12 oil reserve countries everyone of them would run out of oil about 75-100 years before Canada does.
if oil production goes up so will nominal gdp (both because gdp growth would be high and the value of the currency).
Remember back in the 80's when the Japanese were going to own the entire US and were taking over the world? Blah blah blah....
Well folks, China has enormous issues facing it right now. There is a growing social unrest, gross overpopulation and issues with food production, pollution that is seriously impacting the population, corruption etc. It's not all roses for China.
Remember back in the 80's when the Japanese were going to own the entire US and were taking over the world? Blah blah blah....
Well folks, China has enormous issues facing it right now. There is a growing social unrest, gross overpopulation and issues with food production, pollution that is seriously impacting the population, corruption etc. It's not all roses for China.
the only reason why the US is losing its position at the top is because of its population, because China has that it has an advantage.
a well led smart country will eventually have a high per capita gdp, the UK, France, Japan all have that the only difference is population.
They may have issues but so does the rest of the world.The fact is the china and many others are becoming the consumers mark of the future.That means that the world whether they like ti ro not will measure what they produce by these countries needs. Just as now the wants of the US market has a enormous impact on yhe world. We woudn't see the change so much but teh coming generation will. Look at the sopcial needs in the future for europe and the US and you see they have problems that could bankrupt them to the point that much of their society become totally dependent on the production of fewer and fewer people.
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