What is the real gap between USA and China? Lessons from a detailed GDP analysis

Zhang Ziyuan (2023) What is the real gap between USA and China? Lessons from a detailed GDP analysis. Külkereskedelmi Kar.

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Absztrakt (kivonat)

As the most representative country, China is one of the fastest growing developing countries.The United States is the most representative of the best developed countries in terms ofeconomic development. Consequently, conducting a comparative analysis of the economies ofChina and the United States, as the two largest economies in the world, holds significantimportance. Such a comparison not only yields valuable insights for these nations but alsooffers knowledge and reflection for other countries. GDP is the key economic indicator of acountry's economic situation. GDP is a measure of the total value of goods and servicesproduced by a country in a given period of time. Therefore, comparing the GDP of twocountries in a multi-dimensional way can help us understand the economies of both countries,in particular, helps us to understand how China has developed. GDP is a relativelycomprehensive economic indicator that reflects the economic development of the country as awhole. It is made up of the values of many sectors, and a detailed analysis of these sectorsreveals a lot of information about the industries hidden behind the GDP. It helps us tounderstand the overall economic level of the country, as well as the strengths and weaknessesof the sectors. At the same time, every country has a GDP, so by comparing GDP, it ispossible to compare the economic development of two countries and the differences in thedevelopment of their industries. For the government, GDP analysis is also of great importance.The government can use GDP analysis to study the country's development, such as whichsector is generating more jobs, which sector is contributing the most to GDP and which sectoris growing the fastest. Based on past GDP studies, government departments can then forecastthe future of the economy, such as how many jobs will be created in the coming year, howmuch consumer spending will be spent, and so on. This information helps government policymakers to draw lessons from past developments. At the same time, they can adjust theirpolicies in response to future trends and thus contribute to economic development. Forindividuals and businesses, it is also essential to analyse GDP. If GDP grows, it will stimulateconsumption and people will be more optimistic about the country's economy. At the sametime, GDP growth will also boost employment. A good economic situation attracts moreinvestment. To sum up, a pure GDP is still important at the moment.This thesis aims to explore how China can catch up with USA in a economic level by giving acomprehensive analysis of the economies of China and the United States by analyzing thelatest GDP indicators of the two countries. The comparison and analysis will be based onvarious dimensions, including industry, consumption, and historical development. Moreover,a literature research method will be used in order to organize a better structure of the essay.Within the two sections - Expenditure approach and Output approach, most of the data aretaken from the OECD input-output tables for China and the US in 2000 and 2018, which areanalysed in depth. In other chapters, data from the WorldBank are used extensively. Theinput-output analysis table for 2018 is the latest edition of the table and is also the year beforethe COVID-19 pandemic outbreak. In total, by analysing the economic analysis from 2000 to2018, we can see how the GDP of both countries would have been in the absence of thepandemic and how the economic analysis would have been.The research question for this article is to find out the gap between the US and China on aneconomic level and how China can catch up with USA. Regarding the research methodology,the data is sourced from three parts: the first part is the input-output tables for China and theUS in the OECD for 2000 and 2018. The second part is the data from the World Bank. Thethird part is data from the literature. In addition to this, with regard to the structural logic ofthe thesis, an introduction to the article is first given in Chapter 1. Secondly, the concepts thatwill be used in the thesis are given in Chapter 2. Next in chapter 3 the data will be analysedand compared in a comprehensive manner. The economic phenomena reflected after the dataare then discussed as well. In Chapter 4, the question of the essay is answered - how far isChina from the United States in economic level. Finally, In Chapter 6, references are given.In order to provide a comprehensive analysis of GDP, this thesis will focus on the following six areas: ● The dynamics of GDP in China and the US from a time perspective. ● Comparing the input-output tables of the US and China in 2010 and 2018 in expenditureapproach● Comparing the input-output tables of the US and China in 2010 and 2018 in outputapproach● Compare the GDP by GDP per capital ● Compare GDP by Purchasing Power Parity ● Comparing GDP and GNI

Intézmény

Budapesti Gazdasági Egyetem

Kar

Külkereskedelmi Kar

Tanszék

Nemzetközi Gazdaságtan Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Nemzetközi gazdaság és gazdálkodás (angol)

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	China, economic developement, economics, GDP, globalization, industrial management, usa
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2023. Szep. 07. 14:30
Utolsó módosítás:	2023. Szep. 07. 14:30

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