How strong is the Chinese economy as compared to the USA?

Jimmy Gomez

Lives in China (1985–present)

China's economy is much stronger than the U.S. economy. I can even say that the U.S. economy is not China's rival at all. Please don't feel ill in a hurry.

According to the PPP used by the intelligence agencies in power of the United States to measure the national strength, China's total economic output surpassed that of the United States as early as the end of 2014. Yes, the GDP of the United States is still much larger than that of China in books. But please note:

1.       The economic structure of the United States is totally unreasonable, the financial industry is too strong, and the degree of economic virtualization is too high. However, China's economic structure is the most reasonable and promising among the major countries in the world. China's economy has not only a strong and advanced manufacturing industry (secondary industry), but also a booming service industry (tertiary industry), as well as a large number of primary industries. China is the only country in the world that has all the UN Industrial classifications. Not only that, China also has a unique ownership structure - public ownership as the main body + private ownership as the auxiliary, with both plans and markets, which makes China's economy have a strong ability to resist risks; while in the United States, if the financial collapse, the breakfast of 300 million people tomorrow will become a problem.

2.       The U.S. GDP is too wet. America's GDP takes everything including street snacks into account. I can say with confidence that China's GDP has been greatly reduced artificially. In China, a large number of small and medium-sized enterprises report false economic data to the country. They hide a lot of economic activities in order to pay less taxes. A large number of economic activities are not included in the GDP, such as small enterprises and self-employed households with a scale of less than one million (but the number of these enterprises is in hundreds of millions), they are all tax-free, so their business activities are not included in GDP! There are also 500 million farmers in China whose activities in rural areas, such as building houses, are not included in GDP! ; rents in Chinese cities are not included in GDP! Yes, China's state-owned enterprises may exaggerate their income, but if we take those neglected into account, how much larger will China's real GDP be? I can't imagine it.

3.       There are too many "harmful GDP" in American GDP. Not all GDP means prosperity. For example, prisons in the United States may generate much more GDP than education; for example, the legal industry, I can't say that lawyers' contribution to the United States is very small, because it's politically incorrect, because lawyers control the whole United States in a sense, but who would agree that lawyers really create wealth commensurate with their salaries?

The truth of the world is really far away from us.