Is China really the worlds 2nd largest economy?
Shu Xu, Strategic FooYou Agent (2008-present)
Answered Aug 4
No, it is not.
Where did you get it? Even as a Chinese I have never heard about such news.
You mean my poor country is the world’s second largest economy? Haha, please stop kidding. Why don't you say China is the largest economy in the world. That sounds more sensational.
50.6k Views · 390 Upvotes
Updated Sep 2
Chinese tell us they are not rich and still a developing country although China is the 2nd largest economy with 11 trillion USD of GDP.
Indian often tell us they will be the superpower in the future althoungh GDP of India is only 2 trillion now.
Hmmm, it is really a interesting phenomenon. I really wonder the reason caused the difference.
I never doubt China is still a developing country and I know it still has a 1.3 billion people. But India is also the same. Many comments ask me for the evidence of “India will be a superpower”. Just search on Quora or Youtube, evidence is everywhere?
70.3k Views · 423 Upvotes
Arman Siani, Engineer, Entrepreneur, Traveler
Answered Aug 4 · Upvoted by Sean Wong, MS Electrical Engineering & Economics, California Polytechnic State University, San Luis Obispo
Nope. China is the largest economy in the world.
GDP of China at PPP: 21 trillion USD
GDP of USA at PPP: 19 Trillion USD
When you talk about the size of the economy, PPP should be the figure that you look at because it takes account of the price and cost of living differences across coutnries.
So while China’s GDP at nominal exchange rates makes it 2nd largest, at purchasing power parity, its economy is larger than not just the US but also the EU.
The estimates are by IMF and other respectable international organizations and the figures are public information. Just Google it. Wikipedia has the info.
60.8k Views · 584 Upvotes