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by refurb
297 days ago
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Where to start? Comparing a 10 year US period to a 20 year period? Seems awfully selective. Let's do a side by side comparison? 2018 to 2023? 2023 is the last year with solid numbers. US: 12% real GDP growth China: 26% real GDP growth Sounds impressive, until you account for the base. US: +$2.4T USD China: +$3.64T USD Yikes! 4x the number of people, but 0.5x the GDP growth. |
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Yes, I chose the strongest form of the other side’s argument to show that even then, it’s difficult to argue that Chinese PPP GDP/c is approaching American levels within a generation. (Though China’s numbers don’t vary much between 10 and 20 years, America’s do since we had a lot of war and then economic stimulus in the 2000s.)
> 2018 to 2023?
You want to make multi-decade projections off a pandemic baseline?
> 4x the number of people, but 0.5x the GDP growth
Per capita means per person. Purchasing power means real production. The question was about potential living standards, not aggregate might.