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I have heard (failed to corroborate) that if Chine measured their GDP using the algorithm that India uses today, then they would already be the largest economy.
by throwaway210222 5y ago
I have heard (failed to corroborate) that if Chine measured their GDP using the algorithm that India uses today, then they would already be the largest economy.
Until economies GDP is measured the same way, I have no idea how they can be compared.
PS. I would love a website that explains how each of the major economies measures their GDP.
- gitah 5y agoJust compare construction GDP between China and US. Both report a similar amount nominally (once adjusted for exchange rate), but China uses more than 10x the cement and steel as the US. This is for actually building things. On the tertiary side, housing service GDP (ex. rent and inputed rent) has the US report 2-3x more than China despite having 25% the population.