1. NS3040 GDP Comparisons Fall Term, 2015

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

3. 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

4. U.S./China GDP Comparisons III 4

5. U.S./China GDP Comparisons IV 5

6. EU GDP Revisions 6

7. Shifts in World GDP 7