With the population of China being more than 4 times that of the USA, is there any credibility to the claim, so loudly made, that the US is the largest economy in the world? I hardly think so.
In 2024 the relative sizes of population were as follows (in Billions)
China 1.405
India 1.45
USA 0.34
European Union 0.449
United Kingdom 0.069
It stands to reason that a nation with a population of 1.4 billion – whether China or India – will have a larger turnover than the nation that has only a fraction of that, even when the majority of the larger population may be on tiny incomes.
If that is not the case at present it will certainly be so in the near future.
Or am I mistaken?
