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  • 2018-10-20 (xsd:date)
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  • he said.Is China’s economy really bigger than the U.S. economy? Various statistics and rating by international organizations prove otherwise.According to the International Monetary Fund (IMF), China’s gross domestic product is about 62% of the size of the U.S. Gross Domestic Product (GDP). The Fund predicts China’s nominal GDP could overtake the U.S. GDP by 2030.China -- Skyscrapers Oriental Pearl Tower and Jin Mao Tower (L) are seen from the Shanghai World Financial Center, in rain at the financial district of Pudong in Shanghai, January 28, 2016Thus, evidence suggests that China’s economy is the world’s second largest. By other measures, the U.S. economy also outperforms China’s.For example, China’s per capita GDP was $8,633, while the U.S. per capita GDP was $59,792.When considering general government expenditures, the United States led the world in 2016, at $6.596 trillion versus China’s $3.584 trillion in government expenditures.U.S. expenditures in various sectors are much higher than in China.For example, in defense, the U.S. spent $615 billion year, while China spent three times less in 2017. In education and health, Washington spends many times more than Beijing.U.S. -- The first of two Terminal High Altitude Area Defense (THAAD) interceptors is launched during a successful intercept test at an undisclosed location, September 10, 2013Also, the U.S. excels in creditworthiness, compared to China. All relevant credit ratings (Moody’s, Standard & Poor’s and Fitch) show that the U.S. rating is AAA, while China has a lower, A+ rating.Meanwhile, Transparency International, the Berlin-based international corruption watchdog, ranked China 77th out of 180 countries on its 2017 Corruption Perception Index (the higher the ranking, the more corrupt a country is perceived to be). The U.S. was ranked 16th.On the World Economic Forum’s Global Competitiveness Index for 2018, China was ranked 28th while the U.S ranked 1st.Last year, the Fund for Peace Fragile State Index gave China a total score of 72.4, and put it in elevated warning" group of countries (en)
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  • Russian President Vladimir Putin’s comments at the annual Valdai Discussion Club October 18 touched extensively on the global economy.Putin spoke of the U.S and Chinese economies, claiming that China’s economy has surpassed that of the U.S.In terms of volume (en)
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