China's 2019 GDP was $14.34 trillion

[Han Patriot]

Whatever you believe. You should just eb aware that even China is still striving to reach the level of the U.S in a few decades. So.....

Hey, nobody js denying it, the living standards are enviable, the problem is that all of it os subsidized through a casino economy subsidized by global dollar hegemony.

 

[Paul2]

On the other hand, Japan try to extend its industrial phase by promoting High Tech Manufacturing, and Automation, but well, that almost destroyed their economy. And China cant literally do that because China have a big population to feed, a lot bigger than the Japanese.

Plaza accords destroyed their economy. Second, their push for automation failed because Chinese were cheaper than robots.

How to express that, they didn't even try to improve their productivity without getting into capital equipment.

Now China has both (take a look whose manufacturing equipment is used around.) The labour price is not the sole determinant here — this is what just anybody working in manufacturing will tell you

 

[KungFuLee]

Plaza accords destroyed their economy. Second, their push for automation failed because Chinese were cheaper than robots.

How to express that, they didn't even try to improve their productivity without getting into capital equipment.

Now China has both (take a look whose manufacturing equipment is used around.) The labour price is not the sole determinant here — this is what just anybody working in manufacturing will tell you

Well, I don't know how much you know about Plaza Accord. Plaza Accord succeed in controlling US-West Europe trade deficit but not Japan. Japan have a protective industrial base, which means the Plaza Accord's 10-12% goal is all but unachievable, couple with the oil import pressure (Japan depends on crude oil import, and back then it was settle by USD, hence a forced depreciated Yen value would not have worked). Which mean the currency inflation were remain uncapped. Which is the reason why Japan economy is all but destroy, not because of the Plaza Accord, but rather, because the Japanese unfavourable economic practices and monetary policy. Had Plaza Accord succeed in Japan, there will only be a 10-12% currency value hike, which would stay between 200-210 yen per dollar, but not the nearly 200% today which is about 110 yen per dollars. And that is what killed the Japan economy.

Well, I guess we have to agree to disagree on the industrial base issue, well, whether it will succeed or not is in the future, so we can only say what we think, and at this point, its very clearly we think of it differently, but if history can be a reference on the issue, no country has yet been successful on transition to stay in Secondary Economy post boom, and that is the only fact we can go after.

 

[Foxtrot Delta]

True i believe real money is alot more. Look at living standards in china way ahead of korea Japan or europe.

 

[tower9]

True i believe real money is alot more. Look at living standards in china way ahead of korea Japan or europe.

I personally think China is artificially keeping it's GDP low so as not to further exacerbate US-China tensions until the point that China has unqualified technological and military supremacy (at least in the Asia Pacific region), then they will recalculate their GDP, adjust the currency exchange rate and China will magically have a larger GDP than the US. I give it ten years.

There is no way that regions like Chongqing have a lower GDP than Ohio which has nothing going on. These figures are fake, they are under-reported and I don't think it's an accident.