Wednesday, September 26, 2007

China vs US Gross Domestic Product

The World Bank, using 2005 data, lists the Gross Domestic Product of China as $2.2 trillion and the United States as $2.6 trillion in 2006.

The World Bank 2005 data lists the US GDP as $12.4 trillion. The US GDP in 2000 was $9.8 trillion so has increased $2.6 trillion from 2000. So during a portion of the presidency of George W. Bush, in five years, the United States economy has grown as much as the entire Chinese economy.

I do like China growing economically. I think one of the most wonderful things in my lifetime has been the hundreds of millions of people brought up out of dire poverty thanks to globalization. I do hope they grow more and we do more trade with them and other developing countries. I believe it is our moral imperative.


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