How is Europe the largest single consumer market at 500 million people? Are you unaware of China, and also India? What am I missing? Even if you measure in econ

How is Europe the largest single consumer market at 500 million people? Are you unaware of China, and also India? What am I missing? Even if you measure in economic size and not population, you’re still wrong. I’m also curious, how and when will it be decided that it’s eventually time to move onto a new/better standard? If the law came into force 20 years ago, would we still be stuck with the standard of that time? Who decides when a new standard is worth upgrading? Edit: I see now others mentioned China already.