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> Now compare that to the same numbers from 40 years ago. That turns out to be easier than I thought thanks to [1]. In 1986 it looked like this (PPP, million USD): China: 647,219 USA: 4,579,625 EU ex UK: 4,368,019 UK: 805,518 EU total: 5,173,537 [2] The big standout is obviously China's rise since then. > Then do the same with nominal GDP which is a better measure for this IMO as you cannot buy anything in global markets at PPP. I disagree; we are comparing three global powers which would be quite capable of satisfying their needs internally if need be. Feel free to post your own calculations if you want, but be careful with dates and exchange rates; the USD index is down about 9% over the past year. [1] https://en.wikipedia.org/wiki/List_of_countries_by_past_and_... [2] In 1986, the EU had 12 members: Belgium (161,613), Denmark (100,996), France (866,333), West Germany (1,319,247), Greece (120,566), Ireland (40,169), Italy (953,257), Luxembourg (10,542), Netherlands (246,164), Portugal (92,824), Spain (456,308) and UK (805,518): https://en.wikipedia.org/wiki/1986_enlargement_of_the_Europe... |
> but be careful with dates and exchange rates
The numbers you are quoting are already corrected for that.
> I disagree; we are comparing three global powers which would be quite capable of satisfying their needs internally if need be
Not my intention at all. My claim was about Europe's ability to act independently of the US and "go off on adventures" - i.e. the ability to project military and economic power. Europe is not a global power, it is a potential alliance of mid size powers.
> The big standout is obviously China's rise since then.
The big change is that everyone else has risen since then. while Europe has stagnated. If you look at this list of countries by PPP GDP you will see India, Indonesia and Brazil are ahead of the UK and France. The only European country in the top five is Russia! https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)