China’s stock market crash in June 2015 forced capital markets to question the country’s supposed infallibility. It also reminded investors that despite rapid growth in the far East, the United States remains the largest and most secure economy in the world.
There were reports last December that China’s output had eclipsed the gross domestic product (GDP) of the United States, but the facts tell a different story.
To be sure, China’s GDP has grown an impressive 835% in the fifteen years since 2000; from $1.198 trillion to $11.212 trillion. But at a monstrous $18.287 trillion, America’s economy still looms large over international affairs.
Japan came in as a distant third behind China, although it has 8.26% more wealth. China’s output may outpace Japan’s $4.21 trillion economy, but its income is spread out over a much larger population.
With $3.413 trillion in national output, Germany registers as number four on the list, followed by the United Kingdom. Including England, Scotland, Wales, and Northern Ireland, the U.K.’s GDP is $2.53 trillion.
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