China's GDP reaches $9.3 trillion in 2013

[karan21]

I can't believe the speed at which the chinese economy is growing. I remember in mid 2009 Chinese economy was just 3.5 trillion $ and today its on its way to over 10 trillion $. Frankly, it's hard for me to imagine the speed and dynamics of Chinese economy. The scale of growth is unbelievable.

Whatever it is, India vs China is long over. India has lost it big time. We would be lucky if we could make up for this loss and wake up to the realities. India needs what China has:infrastructure, electronics and manufacturing. Indian government must learn from them now and maybe even copy their policies which promote manufacturing in India.

 

[tranquilium]

Thanks buddy.

Hey brother, what do you think of our low inflation and high interest rates? There seems like a lot of room to boost growth.

I think maybe 7-8% is the most we want to grow right now, to prevent imbalances.

No other country has sustained such a high growth rate for so long, especially at such an enormous economic base size. There could be hidden dangers, since no one has taken this path before.

If we can sustain a 7-8% growth rate for the next decade, that would far surpass my expectations. That would be truly amazing.

Well, I can't read too much into the inflation rate, because I am not an economic expert, but since it is above 0% and below 5%, then it is in a zone that is typically considered "optimal".

Of course there will be challenges and hidden dangers, but since China has both the human resource (large number of very well educated work force) and the political will (economy and political decision making free from foreign influence), the onlook is pretty good.

One thing to note for an economy of China's size is that it is approaching the upper limit of global market. For example, in 2012, in ppp terms, 1/4 of the global industrial GDP is Chinese and if you look at it by volume, then you have about half of the industrial output on the planet concentrated in one country. As a result, continued market expansion will inevitable come at a slower rate because there is simply less space to expand. This is why domestic consumption is stressed upon for the past few years.

Personally, I think the immediate economic targets for China would be following: step 1, exceed US in term of PPP GDP; step 2, exceed US in term of nominal GDP; step 3, displacing USD as the global reserve currency.

 

[bolo]

Well, I can't read too much into the inflation rate, because I am not an economic expert, but since it is above 0% and below 5%, then it is in a zone that is typically considered "optimal".

Of course there will be challenges and hidden dangers, but since China has both the human resource (large number of very well educated work force) and the political will (economy and political decision making free from foreign influence), the onlook is pretty good.

One thing to note for an economy of China's size is that it is approach the upper limit of global market. For example, in 2012, in ppp terms, 1/4 of the global industrial GDP is Chinese and if you look at it by volume, then you have about half of the industrial output on the planet concentrated in one country. As a result, continued market expansion will inevitable come at a slower rate because there is simply less space to expand. This is why domestic consumption is stressed upon for the past few years.

Personally, I think the immediate economic targets for China would be following: step 1, exceed US in term of PPP GDP; step 2, exceed US in term of nominal GDP; step 3, displacing USD as the global reserve currency.

step 3 is not possible without being #1 in military ranking.

 

[tranquilium]

step 3 is not possible without being #1 in military ranking.

Well, I did say it is "economic" target. Although you are absolutely right, this kind of things are interconnected.

 

[Chinese-Dragon]

You don't have much of a competition there, do you?

Well no, not really a "competition" I guess. I would say a "challenge", and a highly difficult one at that.

Everything that every other developed country did, we have to multiply it by a hundred, due to our massive population. And the pace of construction in China is beyond belief, even looking at the construction data on paper is shocking.

And it's still not enough. America for example, has a larger road and railway network than China, despite having a significantly smaller population. So you can see we still have a long way to go.

But still I am optimistic.

 

[kbd-raaf]

Wah! Congratulations.

Meanwhile, India's GDP shrinks in dollar terms

 

[Dem!god]

well done my eastern neighbor.....
congratulations........

 

[Beidou2020]

You know we have already overtaken America in many categories people use to measure the size of an economy, but in GDP the American economy is nearly twice as big as the Chinese economy.

 

[farhan_9909]

Well, we have the number 1 biggest population on Earth, so we should have been the number 1 economy a long time ago.

Never too late to make up for past mistakes though.

Hopefully we will become the very first country in the world to become a developed country with a population of more than a billion. That will be an incredible record to achieve.

Sir China had world largest GDP some centuries back for centuries(1/3rd of total World GDP)

 

[Chinese-Dragon]

You know we have already overtaken America in many categories people use to measure the size of an economy, but in GDP the American economy is nearly twice as big as the Chinese economy.

This is why many experts think that China's GDP is massively underestimated.

We will be going through a revision soon in our method of calculating GDP.

Sir China had world largest GDP some centuries back for centuries(1/3rd of total World GDP)

You're right. But then we screwed it up, and plummeted nearly to the bottom of the world during our Century of Humiliation.

We need to reclaim our rightful place as the largest economy in the world.

 

[Beidou2020]

This is why many experts think that China's GDP is massively underestimated.

We will be going through a revision soon in our method of calculating GDP.



You're right. But then we screwed it up, and plummeted nearly to the bottom of the world during our Century of Humiliation.

We need to reclaim our rightful place as the largest economy in the world.

We've already reclaimed the position as the largest manufacturer and largest trading nation. Next up is largest consumer market and largest economy. By 2020, we will be largest in nearly everything.

Then nearly all Americans will hate us in those polls

 

[walle990]

chinese wealth need to trickle inland

 

[Genesis]

You don't have much of a competition there, do you?

are you saying the martians didn't exist?! I'm afraid that's an out of line statement, I'm going to have to report this post

 

[liall]

China will soon overtake US to be largest economy in world. May be by 2020 and if not by 2025 for sure. China now needs to open up to immigration.

 

[Edison Chen]

China will soon overtake US to be largest economy in world. May be by 2020 and if not by 2025 for sure. China now needs to open up to immigration.

Thanks for your compliment.

But immigration? No.....never.