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Yes these stats don't make sense, I don't believe them. US Nominal GDP is way higher than China plus USD is still the world's reserve currency ie has massive us
by garyclarke27 5y ago
Yes these stats don't make sense, I don't believe them.
US Nominal GDP is way higher than China plus USD is still the world's reserve currency ie has massive usage outside the US.
- bordercases 5y agoFrom what I understand it isn't dollars that dominate global exchange but dollar denominated assets and instruments.
- mrslave 5y agoIMF recently reported that China's economy has already surpassed USA by annual GDP when measured in purchasing power parity (PPP) - as opposed to market exchange rates (MER). [0] I don't pretend to understand this much further so I welcome comments from anyone who does. [0] https://nationalinterest.org/feature/china-now-world%E2%80%99s-largest-economy-we-shouldn%E2%80%99t-be-shocked-170719 https://nationalinterest.org/feature/china-now-world%E2%80%9...
- Armisael16 5y agoPPP is totally irrelevant for this discussion.
- dtwest 5y agoAccording to the Federal Reserve, China's money supply is larger than the US. GDP levels don't directly map into money supply. https://fred.stlouisfed.org/series/WM2NS https://fred.stlouisfed.org/series/WM2NS https://fred.stlouisfed.org/series/MYAGM2CNM189N https://fred.stlouisfed.org/series/MYAGM2CNM189N The more interesting theoretical question here is whether BTC should be compared to M1 or M2 (or another metric entirely).
- delaaxe 5y agoChina's monetary expansion policy has been way more aggressive than the US's.