How Big is China's Economy?

China's economy is the world's second largest according to the nominal GDP data of the IMF and the World Bank, but there is more to this story than what meets the eye.

Brought to you by the Behind Asian Team.

[BehindAsia]

Do you believe that China will one day surpass the United States in nominal GDP?

[robertling]

I would imagine that their economy is larger because they produce 11 times more steel, 10 times more cement, 2.5 times more cars, and the largest shipbuilder by far, and 2.5 times more electricity, and also produce the most food by far.

[frank-jsnf]

The actual GDP figures of China are much larger than the published figures. In the past two years, the exchange rate of the Chinese yuan against the US dollar has been depreciating, from 6.1 to 7.2, which is abnormal. In addition, there is a big data in China that is not included in GDP. The United States will convert all houses in the United States into rent and include it in US GDP every year, but China has not counted this. The number of houses in China is five times that of the United States. If all houses in China are converted into rent and included in GDP, China's GDP can instantly increase by trillions of dollars. As long as China appreciates the exchange rate to 6.1, its GDP converted into US dollars will also increase significantly. However, China has not done so. In order to achieve long-term development, China has given up the comparison of GDP

[robertlee]

I visited China this summer, the price of almost everything in China is about 1/3 to 1/4 of that in USA. even Tesla is 30% to 40% cheaper in China.

[bboystretch]

The GDP isn’t even good measure anymore. You just need to look at the quality of life between countries.

[silversurfergw]

China is more focused on quality sustainable growth and their main concern on dollar is how to further decouple from it.

[MarktYertd]

The Chinese economy is large due to its ability to produce almost everything except small chips and sell to the Global South, as it was the only country that managed to be almost independent from the USA and not rely on them like Europe does now.

[josephdewuhan]

China's GDP can only be under estimated due to the incomplete statistics in most rural areas, where people can freely build their houses as large as they want and as many stories they want never registered or reported to the government. This can never happen in north america where everything we do needs permit and government registration. Also, countless pedlers of food and other goods on streets of evety city are never counted in GDP.

[taffyandbeanz]

Your video shows Hong Kong’s scenes rather than China’s. If you include HK’s GDP in the calculation the GDP would be much higher

[horridohobbies]

However, GDP per capita does not take into account wealth distribution in a country. If wealth is highly concentrated in the top few percent of the population, then the rest of the population may be suffering financially. This is clearly the case in the United States.

In China, quality of life is generally pretty good for everybody, despite having a much lower GDP per capita. The Chinese enjoy good and affordable health care. China has no homelessness. China has excellent infrastructure. China has very low crime making the country extremely safe. Inflation is very low and the cost of living is also very low (except perhaps for real estate in large cities).

[lovinenglanduk]

A good analysis! For China, being modest about or hiding their enormous and fast growing economy size may help avoid attracting US containment due to the latter`s increasing anxiety and desperation. Believe this is China's current strategy.

[MohdRashidMohdYusof]

US gdp is from financial market, such as of Wall Street. But nothing is produced and manufactured. It also received much income from its swift system.

[petergreen]

❤well done China well done BRICS cooperation is BETTER than conflict.

[Blixey-rz]

Logically yes it should if free trade is allowed to continue in peace; and the digital oligopoly/ empire is kept in check.

[misterbig]

How big is the Indian economy? Some people claim it has been exagerated looking at its hygiene.

[gregwang]

One thing for sure is that litigation is not Included in China’s GDP calculation.

[henrymartin]

Thank you Lord Jesus for the gift of life and blessings to me and my family $14, 120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️

[tomsunuwar]

Taiwan too China 🇨🇳 Not country 😅but why not here in map 🗺 Lol .

[Khan_is_mongol]

I do not understand, even by US GDP measure China has grown 4-5% since 2019 and the US has grown no more than 2.5%, so how are they further ahead by 10 trillion since 2018 now?? hmm something fishy here, not right. I think China is within 5tr or less even by US measures

[Qbb]

It would be better to announce the real size of Chinese GDP, this will make Americans'life easier, because they don't need to hardly run in the front of China.