Is China the New America?

Is there an AI Race?

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Is China the New America?

China's economy has been growing as a percentage of the global economy for decades. Over ten years ago, it overtook the United States in GDP measured by purchasing power parity (PPP) - a metric that compares what each country's currency can actually buy. In nominal terms, China's share of global GDP now stands at nearly 17%, compared with the U.S. at 26%.

PPP reflects real domestic consumption and production capacity, not just exchange-rate value. On a per-capita basis, however, the gap remains large: the U.S. stands at about $67,000 nominal GDP per person, while China reaches $13,000. Adjusted for PPP, those figures become $86,000 for the U.S. and $27,000 for China. The European Union sits between them, at roughly $54,000 per person.