The gap is closing again!In 2021, Only one “Japan GDP” will separate China’s GDP from the US’s?

2022-05-29 0 By

Introduction According to relevant news, the relevant data of China’s GDP in 2021 has been published.Last year, the international economic environment was generally poor, and the economy of many countries contracted under the burden of the epidemic.China, on the other hand, has bucked the trend, growing 8.1% from 2020, the biggest growth in the past decade.Last year, China’s actual gross domestic product reached 114.367 trillion yuan, or 17.7 trillion yuan in DOLLAR terms.No specific U.S. GDP figures have been released, but international estimates put the figure at nearly $24 trillion last year.The gap is closing again!In 2021, Only one “Japan GDP” will separate China’s GDP from the US’s?That’s a $5 trillion gap between China’s GDP and China’s.That’s about the size of Japan’s GDP.China’s total GDP last year was $3 trillion more than in 2020. There are many reasons for China’s economic growth, one of which is the appreciation of the RMB.So how big is China’s economy now compared with that of the United States?According to the prediction of the International Monetary Fund, the US economy will grow by about two trillion in 2021, that is to say, China’s increment is about one trillion dollars higher than it.And although China’s GDP is small, it is expected to outpace the United States in global economic growth.After substantial growth in 2021, The ratio of China’s economy to the US has risen from 70% in 2020 to 77% today.Since the outbreak of COVID-19 two years ago, the global economy has been in a downturn, but China is the only country in the world that has maintained economic growth momentum.Such achievements have been made thanks to the efforts and cooperation of the Chinese people and the country, which has enabled the Chinese people to maintain their health while sustaining economic growth and expanding China’s international influence.After more than four decades of hard reform, China is now the world’s fastest growing economy.In the late 1970s and early 1980s, China’s economy began to take off, and the changes in China attracted the world’s attention. Now we are no longer poor and backward. People who come to China feel nothing but vitality and boundless hope.Whether in rural or urban areas, people see clean and tidy streets, well-arranged buildings, well-planned streets, smooth roads and perfect facilities.Foreigners who learn about the changes in China today are very surprised, they are surprised at the changes in China, the speed of China’s development.Since the early 1990s, China has become one of the top ten economies in the world. With our continuous efforts, our ranking gradually advanced. In 2000, China’s GDP ranked sixth, followed by the United States, Japan, Germany, the United Kingdom and France.But now we’ve surpassed everyone except the United States.When we overtook Japan in 2010 to become the second largest economy in the world, people across the country cheered and cheered.But rather than stand still, China has continued to work to close the gap.With the sudden outbreak of COVID-19 in late 2019 and early 2020, countries are struggling to cope with the epidemic and their economies are in a slump.Under such circumstances, China continues to grow.By the end of 2020, China’s GDP was 2.95 times that of Japan and 3.82 times that of Germany.Now only the United States remains in front of us. It has occupied the position of the world’s largest economic power for 100 years. Its economic strength is recognized by the world, and it is the only country in the world whose GDP exceeds 20 trillion yuan.But after 20 years of development, China’s economy has changed.In 2020, the GDP of the US economy dropped by 3.5% due to the epidemic, but China did not decline, but continued to grow, and the gap between the two countries continued to narrow.Judging from the current economic growth rate, it is only a matter of time before the United States is surpassed by China. According to the estimation of relevant experts, it will only take seven years for us to surpass China from now on.But GDP is a simple measure.The comprehensive strength and development level of a country need to refer to per capita GDP.There is a huge gap between China’s PER capita GDP and that of the United States. At the beginning of the new century, China’s GDP was only $1.21 trillion, while that of the United States was $10.25 trillion.But China’s GDP is only 11% of America’s.After 20 years of development, China’s economy is now very different.Although China’s per capita GDP exceeded 10,000 US dollars in 2020, it was already over 60,000 US dollars at this time, and China’s per capita GDP was only 1/6 of it.Although China’s economy is growing fast, compared with that of the United States, there are still many deficiencies.Of course, the gap in per capita GDP also has objective reasons such as China being the most populous country.Conclusion Although it is only a matter of time for China to become the world’s largest economy, we should not take it lightly.As time goes by, I believe that in the near future, China will not only become the world’s largest economy, but also meet our expectations on per capita basis. The great rejuvenation of the Chinese nation is no longer a dream.Today’s topic: Closing the gap again!China’s GDP has surpassed Japan, Germany and other countries. How long will it surpass the United States?