U.S. experts: China's GDP may have surpassed the U.S. ten years ago! China's GDP is manufacturing, while the U.S. GDP is finance; looking at the numbers is meaningless!
He said that China's economy is a miracle, and the U.S. is no longer the largest economy. The U.S. and the West have severely underestimated China's economy.
This U.S. expert's view indeed points out a core issue: relying solely on nominal GDP totals is no longer sufficient to fully reflect the real economic strength comparison between China and the U.S. Current analyses focus more on the actual composition and quality of the economy.
* "The numbers are meaningless" refers to statistical differences: the U.S. GDP calculation uses the "expenditure method," which includes virtual rent, legal litigation, medical bills, and even prison costs in the GDP, these non-productive services inflate the GDP figures. While China mainly uses the "production method," focusing more on measuring the actual output of industry, agriculture, and services. Therefore, the seemingly higher U.S. GDP contains a lot of "water content."
* Manufacturing is the "ballast" of the economy: compared to the U.S.'s "finance" and virtual economy, China's GDP is based on a solid manufacturing sector. An industrial system covering all categories with strong technological upgrading capabilities not only concerns economic growth but also relates to the country's economic resilience and strategic security.
* From the perspective of "purchasing power," see the real scale: Purchasing Power Parity (PPP) is an indicator that measures a country's actual output after excluding price factors. According to data from institutions such as the World Bank, according to PPP calculations, China's economic scale has already exceeded the U.S. This is the key basis for many experts who believe that China has become the largest economy in practice.
This U.S. expert's view reminds us that when assessing national economic strength, we need to go beyond the numerical game of nominal GDP. China's advantages lie in its vast real economy, complete industrial system, and speed of technological catch-up; while the U.S. advantages are in financial hegemony, traditional technological accumulation, and currency status.
This competition may not be a zero-sum game where one side loses and the other wins. The more likely outcome is that both sides will strengthen their respective strengths, ultimately shaping a new multipolar global economic order.
Original: www.toutiao.com/article/1850151349604364/
Statement: This article represents the views of the author.