Thursday, August 04, 2005

Don't Worry About China. Learn From It. - New York Times

Don't Worry About China. Learn From It. - New York Times: While there is a debate about the actual size of the Chinese economy, very few really have a grasp on the actual size.

From the article:
"range of estimates, but generally the gross domestic product of China in the year 2004 is estimated to be substantially less than $2 trillion. That would roughly make it one-sixth the size of the United States economy. Yet China has nearly five times the population of the United States. That means the per capita G.D.P. of China is about one-thirtieth the per capita G.D.P. of the United States"

This is totally not meant as a cut against anyone, but it is always useful to keep relative positions in mind. While China's economy is growing very quickly, don't forget it has a long ways to go. As the author Ben Stein points out, it is something often forgotten in the media.

1 comment:

Orter said...

This is a really great reminder. I've read so many articles that preach simply doom and gloom with regard to China. Writers talk about how China is the new economic leader, how China is this great economic and political threat to the US. Undoubtedly, China is growing, but I am frustrated at times by the singularly bleak outlook of the media. I guess fear sells. One article I really appreciated was an interview with Jim Rogers. He gives a pretty balanced view of the situation in China. Check it out.