[jeroen94704]

I don't really understand the fascination with nominal GDP, be it in US$ or PPP. Those numbers are heavily influenced by the size of a country's population, which according to wikipedia ranges from something like 100,000 all the way up to 1.3 billion. That's four orders of magnitude!

That's like comparing a Formula 1 car and a Peugeot 107, and then deciding the guy in the Formula 1 car is a better driver because his lap times are faster.

[austinz]

Because each set of numbers measures a different set of things. Singapore and Luxembourg may have a larger per capita GDP than the U.S. or China, but the absolute size of their economies is far too small to allow them similar amounts of military or diplomatic influence compared to the larger countries. Likewise, a small country where everyone earns a lot of money is more attractive a market for a company selling luxury goods than a country where the total GDP is thinly spread across a large but destitute population.

[melling]

Where's India on the list? It's as big as China. The point is that since the 1870's the United States was bigger, even with a large population difference. It's certainly noteworthy that China has caught up, or the U.S. is falling behind.

[velik_m]

I find the analogy slightly ironic, since the best driver in formula 1 is indeed determined not only by his own skill, but also on the basis of his car quality.