China's nominal GDP will hit $15 TRILLION in 2018

[AViet]

Cannot imagine while per capita GDP of China is lower than Portugal. China is one of the most advanced countries in this world and its cities are modern, while Portugal is a backward country. Even their capital Lisbon has the areas in outskirts which look like Africa. By almost all measures, China is already far ahead.

 

[Brainsucker]

If the whole China GDP per capita can beat United States of America, then they are not to be considered as the richest country in the world anymore. But more than that.

 

[Viet]

Cannot imagine while per capita GDP of China is lower than Portugal. China is one of the most advanced countries in this world and its cities are modern, while Portugal is a backward country. Even their capital Lisbon has the areas in outskirts which look like Africa. By almost all measures, China is already far ahead.

I haven’t been to Portugal yet. Are you sure the country looks like Africa?

 

[Cybernetics]

Per capita basis Beijing is not the richest city in China, though its growth is quite phenomenal for such an economically large city.

Major cities with larger nominal per capita gdp than Beijing in 2017:

1. Shenzhen $28,300
2. Suzhou $22,900
3. Wuxi $22,200
4. Hangzhou $20,800

There are a few other smaller multi-million population cities with higher gdp per capita than Beijing in 2017. Daqing $24,400 , Ordos $36,700 , Dongying $30,300 , Baotou $22,700
http://www.chyxx.com/industry/201801/602130.html

China's per capita gdp would likely reach $10,000 by the end of 2018 or 2019.

 

[Khan_21]

Cannot imagine while per capita GDP of China is lower than Portugal. China is one of the most advanced countries in this world and its cities are modern, while Portugal is a backward country. Even their capital Lisbon has the areas in outskirts which look like Africa. By almost all measures, China is already far ahead.

Just because there are skyscrapers in China doesnt make it more developed than Portugal. The most developed and advanced countries in the world Norway , Switzerland and Iceland rarely have skyscrapers . GDP per capita of Portugal is thice that of China and the Quality of life is much higher there.

 

[Cybernetics]

Just because there are skyscrapers in China doesnt make it more developed than Portugal. The most developed and advanced countries in the world Norway , Switzerland and Iceland rarely have skyscrapers . GDP per capita of Portugal is thice that of China and the Quality of life is much higher there.

From the commonly used HDI (human development index) major Chinese cities rank decently internationally. I won't count HK, Macau, and Taiwan since they are already established as fully developed.
2014 Statistics:
Beijing 0.869 (comparable to Czech Republic 0.870)
Shanghai 0.852 (comparable to Cyprus 0.850 and Qatar 0.850)
Tianjin 0.843 (comparable to Poland 0.843 and Slovakia 0.845)

Portugal 0.830

China as a whole still has a long way to go with a national HDI of 0.727 but making good steady progress. There are cities in China with higher HDI than Beijing like Suzhou (0.894) and Wuxi (0.909)

https://en.wikipedia.org/wiki/List_...s_of_Greater_China_by_Human_Development_Index

Page 208 for HDI chart
http://hdr.undp.org/sites/default/files/2015_human_development_report.pdf

 

[Khan_21]

From the commonly used HDI (human development index) major Chinese cities rank decently internationally. I won't count HK, Macau, and Taiwan since they are already established as fully developed.
2014 Statistics:
Beijing 0.869 (comparable to Czech Republic 0.870)
Shanghai 0.852 (comparable to Cyprus 0.850 and Qatar 0.850)
Tianjin 0.843 (comparable to Poland 0.843 and Slovakia 0.845)

Portugal 0.830

China as a whole still has a long way to go with a national HDI of 0.727 but making good steady progress.

https://en.wikipedia.org/wiki/List_...s_of_Greater_China_by_Human_Development_Index

Page 208 for HDI chart
http://hdr.undp.org/sites/default/files/2015_human_development_report.pdf

Thats the point. Can we take HDI of Islamabad , Lahore , Karachi and say its more developed than Malaysia? China is not richer or more developed than Portugal. Its GDP per capita is still behind Malaysia let alone Portugal

 

[Kai Liu]

The difference is China is on the rise, and Portugal stays the same for 10 years.

 

[Martian2]

Just because there are skyscrapers in China doesnt make it more developed than Portugal. The most developed and advanced countries in the world Norway , Switzerland and Iceland rarely have skyscrapers . GDP per capita of Portugal is thice that of China and the Quality of life is much higher there.

No. The per-capita GDP for Portugal, Greece, and other small European countries are all distorted.

These countries use the common Euro currency. Additionally, these small countries receive subsidies from the central European government.

By sharing a hard currency with Germany (via the Euro) and receiving "transfer payments" from the European Union, these small countries have an artificially-inflated nominal GDP.

When it looked like the EU would no longer support Greece, the Greek bonds started collapsing.

If Portugal and Greece were forced to use their own currencies and DID NOT receive transfer payments from the European Union, their nominal GDP would be a fraction of what it is today.

Norway is an exception. It is a petrol state and exports vast amounts of oil from the North Sea.

Thus, the current Portuguese and Greek nominal GDPs are a reflection of SHARING the Euro currency and receiving substantial transfer payments from the European Union. It is not a reflection of Portugal's or Greek's own national merit as economies.

 

[Khan_21]

No. The per-capita GDP for Portugal, Greece, and other small European countries are all distorted.

These countries use the common Euro currency. Additionally, these small countries receive subsidies from the central European government.

By sharing a hard currency with Germany (via the Euro) and receiving "transfer payments" from the European Union, these small countries have an artificially-inflated nominal GDP.

When it looked like the EU would no longer support Greece, the Greek bonds started collapsing.

If Portugal and Greece were forced to use their own currencies and DID NOT receive transfer payments from the European Union, their nominal GDP would be a fraction of what it is today.

Norway is an exception. It is a petrol state and exports vast amounts of oil from the North Sea.

Thus, the current Portuguese and Greek nominal GDPs are a reflection of SHARING the Euro currency and receiving substantial transfer payments from the European Union. It is not a reflection of Portugal's or Greek's own national merit as economies.

Portugal is ahead than China on almost every developmental Index. HDI , Quality of Life , Happiness report . Give two options to people if they want to immigrate to Portugal or China. 90 % of them would chose Portugal for obvious reasons .

 

[haidian]

Portugal is ahead than China on almost every developmental Index. HDI , Quality of Life , Happiness report . Give two options to people if they want to immigrate to Portugal or China. 90 % of them would chose Portugal for obvious reasons .

Where did you get that number? I think China has way more foreign expats living in China than those in Portugal, maybe even Hong Kong has even more foreigners than that.

As of 2017, there are about 988,812 foreigners living in China.

 

[Khan_21]

Where did you get that number? I think China has way more foreign expats living in China than those in Portugal, maybe even Hong Kong has even more foreigners than that.

You didn't get me. More people from developing countries would like to settle in Portugal compared to China. Portugal provides a much higher quality of life. Richer, Better Education System, More secure , Much freer society, Better living conditions Its a no-brainer I don't know why Chinese are confused. Your own citizens are settling in Portugal paying 500000 Euros per visa.

 

[haidian]

Common sense states that people go where moeny and opportunities present, that's where China is, China has already made restrictive immigration laws to control the number of foreigners living and working in China.

 

[Martian2]

Portugal is ahead than China on almost every developmental Index. HDI , Quality of Life , Happiness report . Give two options to people if they want to immigrate to Portugal or China. 90 % of them would chose Portugal for obvious reasons .

Portugal has zero technology. It's a second-world country.

Happiness index? Are you serious?

China wins on development index.

Does Portugal have high-speed rail? No.
Can Portugal build a nuclear reactor? No.
Can Portugal build a supercomputer? No.
Can Portugal build a CPU? No.

It is ridiculous to claim that Portugal is ahead of China on developmental index.

China is an advanced industrial society. Portugal is a non-industrialized country.

China is ranked world #5 in USPTO patents with over 10,000 USPTO patents granted per year.

Portugal received only 43 USPTO patents in 2014. The Philippines is ahead of Portugal in USPTO patents granted. The Philippines received 45 USPTO patents in 2014.

Citation (US government's USPTO): https://www.uspto.gov/web/offices/ac/ido/oeip/taf/st_co_14.htm

 

[haidian]

You didn't get me. More people from developing countries would like to settle in Portugal compared to China. Portugal provides a much higher quality of life. Richer, Better Education System, More secure , Much freer society, Better living conditions Its a no-brainer I don't know why Chinese are confused. Your own citizens are settling in Portugal paying 500000 Euros per visa.

But the hard fact is way more foreigners living, studying and working in China, facts and figures speak louder than assumptions.

There are many international soccer stars now play in China. They are after money, that's why so many foreigners are coming to China.
Beijing best Asian city to make money, expats say
http://www.atimes.com/article/beijing-best-asian-city-make-money-expats-say/

China one of top 3 destinations for expats
China is the third most desirable expat destination, just behind Singapore in second place and Switzerland in the lead, according to a study by HSBC.

"China is the best place for expats looking to make their money go further, with 76% of expats in the country experiencing growth in their spending power once they've moved," the global bank said.

Most expats move to China for better job prospects, attracted by souped up pay packages. About a quarter of expats make more than $300,000 in annual salary, the highest proportion of any country.
http://money.cnn.com/2014/10/23/news/expats-china-survey/index.html

This news is a little bit old, from 4 years ago.