GDP Comparison: USA vs European Union vs China 1980-2029 / IMF(April 2024 Data)

[Hamartia Antidote]

 

[SaadH]

GDP comparison sans PPP is meaningless. Just because a haircut costs less in China compared to US, doesn't mean the US haircut is generating more economic value and activity.

 

[lightning f57]

GDP comparison sans PPP is meaningless. Just because a haircut costs less in China compared to US, doesn't mean the US haircut is generating more economic value and activity.

That is the big flaw in GDP comparisons add to the fact they happen with USD which the US can print at will.

 

[F-22Raptor]

GDP comparison sans PPP is meaningless. Just because a haircut costs less in China compared to US, doesn't mean the US haircut is generating more economic value and activity.

Using PPP GDP to measure the strength of national economies is worthless. PPP is only relevant when measuring individual standard of living. Real money is what matters when comparing relative economies. And there’s no such thing as a national cost of living.

That’s why no one gave a shit when China passed the US a decade ago in PPP.