NS3040 U.S. China GDP Comparisons Summer Term, 2014

U.S./China GDP Comparisons I In 2013 China became the world’s largest economy 2

U.S./China GDP Comparisons II Still relative wealth of Americans much higher GDP per capita in China (2012/2013) is $10/11,000 on a par with middle income countries like Romania -- $11,000 Uruguay -- $12,000 Turkey -- $13,000 In contrast the us GDP per capita was $45/46,000 While this gap is closing, even if current growth rates continue, China not expected to overtake U.S. in per capita terms for another decade If growth rates drop from 7-8% to 5-6% over the period it may not be until 2050 that China may match U.S. per capita incomes 3

U.S./China GDP Comparisons III 4