More US and China comparative numbers

SCMP

China’s gross domestic product has achieved an average annual growth rate of 10% in the past 40 years – three times the rate in the United States over the same period. Its GDP per capita increased from $156 in 1978 to $8,123 in 2016, lifting more than 800 million people out of poverty. By comparison, the US GDP per capita was $57,638 in 2016, indicating there is still growth in the China story.

China now has the second-largest equity market in the world. From a total market capitalisation of $513 billion in 2003, it has grown 17x to $8.7 trillion last year. The country’s domestic bond market is now the third largest in the world.

After primarily being a recipient of FDI for four decades, China has now emerged as a
major FDI-originating country as well, with non-financial outbound direct investment rocketing from less than $1 billion in 2000 to $170 billion in 2016.

China has more e-commerce activity than any country in the world. It accounts for 42% of global e-commerce, a third of the world’s most successful tech start-ups and conducts 11x more mobile payments than the United States.

Spengler:

China is a phenomenon unlike anything in economic history. The average Chinese consumes 17x more today than in 1987. This is like the difference between driving a car and riding a bicycle or between indoor plumbing and an outhouse. In an incredibly short period of time, this formerly backward country has lifted itself into the very first rank of world economies.

Over the same period, China has moved approximately 600 million people from the countryside to the cities—the equivalent of moving the entire population of Europe from the Ural Mountains to the Atlantic Ocean.

China’s share of high tech exports has risen from about 5% in 1999 to about 25% at present, while America’s has plummeted from about 20% to about 7%. That’s not a sustainable situation. What it means in practical terms is that America can’t build a military aircraft without Chinese chips.

there are 1.38 billion Chinese, and their research and development (R&D) spending is quickly catching up with ours. They’re producing 4x as many science, technology, engineering, and mathematics (STEM) bachelor’s degrees and twice as many STEM Ph.D.s as the United States. 6-7% of U.S. college students major in engineering. In China that number is 30-40%.

Hey, US universities have more important things to do.

One Response to “More US and China comparative numbers”

  1. Bosun Says:

    And that’s without factoring in useful idiot urchins, like that Florida joker that’s attacking Fox. The Chinamen must be watching and thinking the USA is self-destructing. If we just wait…..

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