In research from Statistics Times, based on International Monetary Fund (IMF) data, China finds itself in 70th place worldwide for GDP per capita, at $10,099. China is far behind America at $65,112. For that matter, China trails Malaysia, Mexico and even Romania, Costa Rica and Chile. Measuring GDP Per Capita: America & Its RivalsĬhina may surpass the United States in overall GDP by the 2030s, but it’s a different story when it comes to GDP per capita. What happens when you divide the economy by a country’s population? Japan, which had held the second spot until bumped down a notch by China, is likely to fall to fourth by 2033, as India (currently seventh) could likely jump ahead of Germany, the United Kingdom and France, according to the CEOWorld Magazine rankings. And America isn’t the only country that needs to look over its shoulder. That may scare Americans, but I remember a projection based on GDP growth rates that had China surpassing America in 2007 or 2008. But by 2033, China will likely overtake the United States as having the biggest market in the world. From 2003 through 2018, the United States held the top spot in world rankings, and London finds that we’ll probably keep the distinction of having the strongest economy in 20. How close is the dragon from flying past the eagle?Įmma London writing for CEOWorld Magazine has some thoughts on that. Will the United States Remain Number One?įor the past several years, there have been plenty of reports that contend that China has surpassed, or is poised to pass, the United States for the top stop.
“The nominal GDP of the top 10 economies adds up to about 66% of the world’s economy… the top 20 economies contribute almost 79%.” The rest of the countries of the world, nearly 175 in number, make up the rest of world’s economic power, barely 20%. “This analysis reveals these economies are the engine of growth, commanding a majority of the global wealth,” Silver wrote. That economic status, based on a country’s GDP (determined by the IMF’s World Economic Outlook Database), is important for a country’s position in the world. Rounding out the top 10 are the United Kingdom, France, Italy, Brazil and Canada. Russia and South Korea just miss out on a ranking in the top 10. In second place, you’ll find China, then Japan, Germany and India. But is that still the case? According to Caleb Silver with Investopedia, America controls the top spot in the ranking of Gross Domestic Product (GDP) or the sum value of goods and services in a country. Since the end of World War II, the United States has had the strongest economy in the world. Is America’s Economy the Best in the World?
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