Top Ten World Economies in 2018 | IMF

[Martian2]

For 2018, here are the Top Ten world economies in nominal GDP.

United States - $20.2 trillion
China - $13.1
Japan - $5.1
Germany - $3.9
France - $2.8
Britain - $2.7
India - $2.7
Brazil - $2.2
Italy - $2
Canada - $1.8

World Economic Outlook Database, October 2017 | International Monetary Fund

 

[Yingluck]

For 2018, here are the Top Ten world economies in nominal GDP.

United States - $20.2 trillion
China - $13.1
Japan - $5.1
Germany - $3.9
France - $2.8
Britain - $2.7
India - $2.7
Brazil - $2.2
Italy - $2
Canada - $1.8

World Economic Outlook Database, October 2017 | International Monetary Fund

China could already be the largest economy by now. The 2010 data on GDP by industries is quite old but it is still a valuable reference.

Majority of China GDP is in manufacturing. Meanwhile, USA biggest "industry" seems to be raw material, not unlike 3rd world country.

And there are a whole chunk of rentier industries contributing to significant USA GDP, such as education, healthcare, finance and real estate.

 

[Bussard Ramjet]

For 2018, here are the Top Ten world economies in nominal GDP.

United States - $20.2 trillion
China - $13.1
Japan - $5.1
Germany - $3.9
France - $2.8
Britain - $2.7
India - $2.7
Brazil - $2.2
Italy - $2
Canada - $1.8

World Economic Outlook Database, October 2017 | International Monetary Fund

These are old forecasts, which don't take into account currency appreciation.

China's nominal GDP in 2017 alone has reached 12.7 trillion dollars.

If the currency remains stable through out the year, the nominal GDP can reach almost 14 trillion.

 

[AndrewJin]

With such a great GDP and increasing health expenditure, America’s life expectancy is on the decline.

 

[Beast]

The rise of yuan will have a impact of final GDP. I have already notice the USD is dropping ever since the Yuan to Gold bond has launched in Dec 2017. Russia, Pakistan, Angola, Venezuela and a number of nation has started to trade in RMB. USD value will decline and so as final GDP of USA.

If USD is devalue by 20% while RMB is up by 20% against USD. China economy value will be almost on par with USA by now.

 

[Khan_21]

Chinese economy might overtake US somewhere in next decade but its per capita is still lower than countries like Malaysia and Turkey. China is winning because of sheer numbers(1.2 billion vs 300 million). Sometimes the overall numbers cloud our judgment of what reality truly is.

 

[武成王]

We need calm down on the good news about China, there's still a long way to go to reach at least 10 times of japan's GDP.

 

[ziaulislam]

problem is Chinese yaun, they devalue it again and again

china needs to focus on consumption and services, this will only happen if it makes its labour expensive and expand the middle class and open up the market to all players

 

[Beast]

problem is Chinese yaun, they devalue it again and again

china needs to focus on consumption and services, this will only happen if it makes its labour expensive and expand the middle class and open up the market to all players

What makes you think China will devalue Yuan again? China is now turning into consumption based economy.

https://messinofinancial.wordpress.com/2017/08/31/chinas-shift-from-industrial-to-consumption/

Dependent on export driven economy is not the driven forces. With Yuan bond issue and aiming to replace USD as main dollar. Devalue Yuan might be the thing of tomorrow. If RMB is allowed to raise. China economy will easily growth many percent within a year.

 

[ziaulislam]

What makes you think China will devalue Yuan again? China is now turning into consumption based economy.

https://messinofinancial.wordpress.com/2017/08/31/chinas-shift-from-industrial-to-consumption/

Dependent on export driven economy is not the driven forces. With Yuan bond issue and aiming to replace USD as main dollar. Devalue Yuan might be the thing of tomorrow. If RMB is allowed to raise. China economy will easily growth many percent within a year.

you guys need to expand services, move cheap labour related industry out and focus on high value industry
you need a middle class that can afford and spend

 

[Cybernetics]

problem is Chinese yaun, they devalue it again and again

china needs to focus on consumption and services, this will only happen if it makes its labour expensive and expand the middle class and open up the market to all players

China's long term strategic direction is consumption of indigenous production, not export although it will still export goods, just not the priority. Devaluation of currency is a tool during the phase of industrial and technical accumulation to attract/develop industry, drive down along the cost curve and move along the learning curve. That's why exports were important. Once China has a broadly competent industrial system it will transition into a consumption economy, it won't be over night. The development of services is predicated upon the industrial system, not the other way around. If services is attached to a foreign industrial system, its harder to transition into an economy that consumes indigenous production.

 

[nature is]

Chinese economy might overtake US somewhere in next decade but its per capita is still lower than countries like Malaysia and Turkey. China is winning because of sheer numbers(1.2 billion vs 300 million). Sometimes the overall numbers cloud our judgment of what reality truly is.

Per capita GDP is not an accurate measure either. Many countries have higher per capita GD than China, such Chile, Costa Rica, Lebanon and Mauritius. Are they more developed?

Mathematically, per capita calculation favors smaller population> smaller denominator. And in many industries, per unit labor to GDP output is not linear.


Having a huge population is actually a disadvantage, it's a drain on the public coffers. Most populated country are usually under-developed.

 

[shootingstar]

For 2018, here are the Top Ten world economies in nominal GDP.

United States - $20.2 trillion
China - $13.1
Japan - $5.1
Germany - $3.9
France - $2.8
Britain - $2.7
India - $2.7
Brazil - $2.2
Italy - $2
Canada - $1.8

World Economic Outlook Database, October 2017 | International Monetary Fund

Indian GDP will go down to $2 trillion in 2018 due devaluation of the Indian Rupee.

 

[Khan_21]

Per capita GDP is not an accurate measure either. Many countries have higher per capita GD than China, such Chile, Costa Rica, Lebanon and Mauritius. Are they more developed?


View attachment 446875

Developed in sense of what? In terms of Quality of life for its citizens, I would say Chile, Mauritius, Malaysia are ahead than China. But ofcourse being smaller means much easier to develop your country.

 

[Martian2]

Developed in sense of what? In terms of Quality of life for its citizens, I would say Chile, Mauritius, Malaysia are ahead than China. But ofcourse being smaller means much easier to develop your country.

Are you dense?

More developed in terms of TECHNOLOGY. Like in J-20 stealth fighter or DF-41 10-MIRV ICBM.