China Is Now the World’s Largest Economy. We Shouldn’t Be Shocked

These articles are always nonsense:

- The Chinese population is over 3x more than the US.

- Per-capita, the US makes far more income

- Real estate speculation is behind a lot of Chinese growth, where some of it real and a lot is bogus. China has had several bank failures reently because of this.

- The CCP tarnished China's mfg. reputation, and exports are down by 80 % in some cities in 2020. A lot of those factories are relocating home or to Vietnam/India/etc.

- half of their population makes $2/day, if they make anything (farmers are being short-changed, which is bizarre when considering China imports 30% of food even in good times, and that's between 50%-60% in the next year.) The CCP's average wealth targets have fallen apart, and those peasants subject to flood and locusts are ruined.

Nominal GDP measures real money that can be traded. PPP measures how cheap or expensive a haircut is in a poor country.

Chinese population is 4.375 times greater than US's. Ant economy is one-sixth larger. But iPhone 12 mini sells as a pretty same price (¥5499 vs $699)