ns3040 gdp comparisons fall term, 2015. u.s./china gdp comparisons i in 2013 china became the...
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U.S./China GDP Comparisons II Still relative wealth of Americans much higher GDP per capita in China (2012/2013) is $10/11,000 on a par with middle income countries like Romania -- $11,000 Uruguay -- $12,000 Turkey -- $13,000 In contrast the US GDP per capita was $45/46,000 While this gap is closing, even if current growth rates continue, China not expected to overtake U.S. in per capita terms for another decade If growth rates drop from 7-8% to 5-6% over the period it may not be until 2050 that China may match U.S. per capita incomes 3TRANSCRIPT
NS3040 GDP Comparisons
Fall Term, 2015
U.S./China GDP Comparisons I
• In 2013 China became the world’s largest economy
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U.S./China GDP Comparisons II
• Still relative wealth of Americans much higher• GDP per capita in China (2012/2013) is $10/11,000 on a par with
middle income countries like• Romania -- $11,000
• Uruguay -- $12,000
• Turkey -- $13,000• In contrast the US GDP per capita was $45/46,000• While this gap is closing, even if current growth rates continue,
China not expected to overtake U.S. in per capita terms for another decade
• If growth rates drop from 7-8% to 5-6% over the period it may not be until 2050 that China may match U.S. per capita incomes
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U.S./China GDP Comparisons III
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U.S./China GDP Comparisons IV
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EU GDP Revisions
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Shifts in World GDP
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