Is China really the world's 2nd largest economy? Why or why not?

中国真的是世界第二大经济体吗？

 以下是Quora读者的评论：

Reality Decoded, B.Tech Electrical and Electronics Engineering, SRM Institute of Science and Technology

China is way past the second largest economy number and now is the largest economy in the world.

IMF (International Monetary Fund) in its World Economic Outlook report made this revelation that China has overtaken USA in terms of GDP based on more reliable PPP (Purchasing Power Parity). According to this report Chinese economy now values at $24.2 trillion Dollars where as U.S economy is $20.8 trillion dollars. This makes chinese economy one-sixth time larger than America's.

Traditionally, many economist have used Market Exchange Rates(MER) to measure the size of economy.

中国已经远远超过了世界第二大经济体，已然是世界上最大的经济体。

国际货币基金组织在其《世界经济展望》报告中披露，根据购买力平价(PPP)计算，中国的GDP已经超过了美国。根据这份报告，中国现在的GDP为24.2万亿美元，而美国是20.8万亿美元。这使得中国的经济规模比美国高出了六分之一。

传统上，许多经济学家使用市场汇率(MER)来衡量经济规模。

Market Exchange Rates (MER)

This method was developed years after the world war 2 and at that time U.S accounted for almost half of world economy. Under this method all the services and goods produced in that country is calculated in their own currency and they finally converted into dollars.

For 2020, the value of all goods and services produced in China is projected to be 102 trillion yuan. Converted to U.S. dollars at a market rate of 7 yuan to 1 dollar, China will have a MER GDP of $14.6 trillion versus the U.S. GDP of $20.8 trillion.

But under this method there is an assumption that 7 Yuan buys same amount of goods in china as $1 in America, which obviously is not the case.

市场汇率(MER)

这种方法是在第二次世界大战后提出的，当时美国几乎占了世界经济规模的一半。用这种方法计算，该国生产的所有服务和商品都以本国货币计算，并最终转换为美元。

2020年，中国的商品和服务总产值达到102万亿元人民币。以7人民币兑1美元的市场汇率换算成美元，中国的GDP为14.6万亿美元，而美国的GDP为20.8万亿美元。

但在这种方法下，有一个假设，即7元人民币在中国购买的商品与1美元在美国购买的商品数量相同，但显然并非如此。

There is a methods called Big Mac Index which is used to measure the disparities in consumer purchasing power between nations. Big Mac in China costs 21 Yuan and when this is converted into dollar it becomes just $3 in which only half a big mac burger can be bought, which means Chinese currency can buy more for same amount of money as compared to their American counterparts. One of the key insights of the Big Mac Index is that a basket of goods in one country can rarely be precisely duplicated in another country. For example, an American basket of groceries and a Japanese basket of groceries are likely to contain very different products. Mac is based on MacDonald burger which remains mostly same in all the countries.

Nowadays, economist perfer using (Purchasing Power Parity) PPP method to calculate the more acurate value of GDP. The Big Mac Index explained earlier is an informal method of calculating PPP. Basically, Purchasing power parity (PPP) is a measurement of prices in different countries that uses the prices of specific goods to compare the absolute purchasing power of the countries' currency.

有一种方法叫做巨无霸汉堡指数，用来衡量国家间消费者购买力的差异。巨无霸汉堡在中国的售价是21元人民币，换算成美元后，3美元能买到半个巨无霸汉堡，这意味着同样的钱，中国货币可以买到比美国更多的东西。巨无霸汉堡指数的一个关键观点是，一个国家的一篮子商品很少能在另一个国家完全复制。例如，一篮子美国食品杂货和一篮子日本食品杂货可能包含非常不同的产品。巨无霸汉堡则以麦当劳汉堡为基准，因为这种汉堡在所有国家几乎都是一样的。

如今，经济学家更喜欢使用购买力平价法来计算更精确的GDP值。前面解释的巨无霸汉堡指数是计算购买力平价的一种非正式方法。

基本上，购买力平价(PPP)是对价格的一种衡量。不同国家使用特定商品的价格来比较本国货币的绝对购买力。

Thomas Pauken II

On February 14, 2011, international media reports disclosed that China had surpassed Japan to emerge as the world’s second largest economy in GDP (gross domestic product) size.

The news stunned many people around the globe since China’s rapid development and soaring annual economic growth rates had exceeded all expectations.

The chinese had overcome all odds to reduce poverty levels in the country, as well as to move forward on remarkable industrialization, urbanization and modernization drives.

Many Chinese cities have transformed into boom towns attracting hundreds of millions of rural migrants to move there in search of higher-paying jobs and opportunities.

The COVID-19 pandemic would seriously disrupt domestic economic activities, but all nation states have been severely impacted by the virus, so China will not lose its status as the world’s second largest economy.

We are entering a global depression era when property prices, the jobs market and retail sales will plummet. People all over the world will confront much more challenging times ahead.

2011年2月14日，国际媒体报道称，中国已超过日本成为世界第二大GDP经济体。

这一消息震惊了全球许多人，因为中国的高速发展和飙升的年度经济增长率超出了所有人的预期。

中国克服了种种困难，降低了贫困率，并在工业化、城市化和现代化建设方面取得了显著进展。

许多中国城市已经变成了繁荣的城镇，吸引了数以亿计的农村移民到那里寻找更高收入的工作和机会。

新冠肺炎疫情会严重扰乱国内经济活动，但各国都受到了严重冲击，中国不会因此失去世界第二大经济体的地位。

我们正在步入一个全球萧条时代，房地产价格、就业市场和零售销售将大幅下跌。世界各地的人民将面临更大的挑战时代。

Nonetheless, Beiing has implemented effective measures such as introducing tax cuts, reduced business regulations, major infrastructure building, increasing social welfare benefits and offering generous loans to prospective home buyers and business owners.

Japan will remain in a stagnant growth era, while hitting a recession for the rest of the year. Japan will not be able to surpass China in GDP size nor will Germany succeed as well. China’s economy is vibrant with much more room for growth, especially in the western regions.

Should any other country have a chance to overtake the Chinese economy for the 2ndspot in global rankings, it would be India but that won’t happen anytime soon since we are talking a timeframe of decades not years for India to jump ahead.

尽管如此，中国还是采取了一些有效措施，比如减税、减少商业监管、大规模建设基础设施、增加社会福利，以及向潜在购房者和企业主提供贷款。

而日本仍将处于增长停滞时期，将在今年余下的时间里陷入衰退。日本的GDP规模无法超过中国，德国也是如此。中国尤其是西部地区，经济充满活力，增长空间更大。

如果说其他国家有机会超越中国，成为全球排名第二的国家，那只会是印度，但不会很快实现。

But let’s address the growth potential in western China, which has large swathes of territories that are sparsely inhabited. You look at northwest China’s injiang-Uygur Autonomous Region, which is rich in natural resources, underground minerals, along with oil and gas deposits.

Western China has beautiful natural scenery with mountain ranges, rolling grasslands, and bamboo forests. Many international travelers are keen to visit Chengdu, i’an and Chongqing.

The agriculture industry is abundant in all parts of China, so Beiing does not need tofear food shortages of sky-high prices on foodstuffs. China is a nation that can be self-sustaining.

They have sufficient food supplies, strong manufacturing bases and the world’s largest population that makes domestic consumption reliable.

Localization is the newly emerging global business trend. This is the belief that all countries should, “make local and buy local.”

The COVID-19 pandemic has taught nation-states harsh lessons that domestic manufacturing should be built up just in case other countries are confronting ‘black swan’events.

China stands tall as the world’s largest manufacturer and exporter but they were rocked by the virus from late January to early April this year. Many factories were ordered temporarily shut down for public health and safety reasons.

But we should still anticipate an economic rebound in China for the second half of this year. We can read more about it from Asia Times.

我们可以放眼中国西部的增长潜力，那里有大片人烟稀少的地区。中国西北部的新疆-维吾尔自治区拥有丰富的自然资源、地下矿藏以及石油和天然气储备。

中国西部自然风光优美，有山川、草原和竹林。许多国际游客都热衷于去成都、西安和重庆旅游。

中国各地都有丰富的农业资源，因此中国不必担心因食品价格过高而导致的食品短缺。中国是一个自给自足的国家。

他们有充足的粮食供应、强大的制造业基地和世界上最大的人口规模，这使得国内消费规模稳定可靠。

本地化是全球新兴的商业趋势。这是所有国家都应该“生产本地产品，购买本地产品”的信念。

COVID-19大流行给民族国家带来了惨痛的教训，即必须加强国内制造业，防止其他国家遭遇“黑天鹅”事件。

中国是世界上最大的制造国和出口国，但在今年1月底至4月初期间，中国受到了疫情的冲击。出于公共健康和安全原因，许多工厂被勒令暂时关闭。

但我们可以预期，今年下半年中国经济将出现反弹。可以通过《亚洲时报》了解更多。

As reported by Asia Times:

”The country’s economy will be restored in the second quarter as Covid-19 wanes, and see robust growth from the third quarter onwards, he said.

The consumer market has a 1.4 billion population, showing China’s potential to mitigate the impact of the epidemic and pursue development in the long term, said Wang Zhaoxng, another counselor with the State Council.”

据《亚洲时报》报道：

他说，随着新冠肺炎疫情的减弱，该国经济将在第二季度开始恢复，从第三季度开始将出现强劲增长。

“中国的消费市场有14亿人口，说明中国拥有在减轻疫情影响和追求长期发展方面的潜力”

Anonymous

China became the 2nd largest economy from a combination of factors.

Vision and execution: Deng had the vision to bring China out of poverty, He created free trade zones in Southern China and attracted FDIs by promising cheap labour. This was the begng of China's manufacturing prowess. The model in Shenzhen sprouted companies like Tencent and Alibaba, and other regions in China began copying it.

Help from foreign countries: As much as many Chinese would like minimize it today, China would not be where it is today without the help of other countries. The US, Japan, European countries and even Singapore helped China. There was hope that China would grow to become good global citizens.

中国成为世界第二大经济体是多种因素综合作用的结果。

远见与执行力：邓有带领中国摆脱贫困的远见。他在中国南方建立了自由贸易区，并通过承诺提供廉价劳动力吸引外资。这是中国制造业实力腾飞的起点。深圳的这种模式催生了腾讯(Tencent)和阿里巴巴(Alibaba)等公司，中国其他地区也开始效仿这种模式。

外国的帮助：尽管很多中国人想要轻描淡写，但如果没有其他国家的帮助，中国也不会取得今天的成就。美国、日本、欧洲国家甚至新加坡都帮助了中国。人们曾希望，中国将成长为优秀的全球公民。

Hard work and motivation: The Chinese are hard working, driven by the motivation of making money in the new economy. Culturally, the Chinese care a lot about money and they would do almost anything to make money.

Copying and stealing: As foreign companies move manufacturing to China, more trade secrets are exposed to the Chinese. The opportunity to make more money drove many Chinese to copy and steal from the foreign companies.

Unfair trade practices: While China's companies continue to enjoy open access to other countries' market, China closed access to foreign companies to protect Chinese companies.

All the factors above resulted in increasing China's wealth, increasing middle class consumers and creating a class of super rich capable of driving its GDP.

Despite being the 2nd largest economy, China continues to claim status as a develo country to avoid paying its fair share of fees and to bypass stringent conformance to sustainability requirements.

努力工作和积极性：中国人努力工作，希望能在新经济中赚到钱。从文化上讲，中国人很在乎钱，为了赚钱他们几乎会做任何事。

抄袭和偷窃：随着外国公司将生产转移到中国，更多的商业秘密暴露在中国人面前。赚钱的机会促使许多中国人模仿和抄袭外国公司的产品。

不公平的贸易行为：中国企业在继续享受他国市场开放的同时，为保护中国企业，关闭了外国企业的市场准入。

所有这些因素导致了中国财富的增加，中产阶级消费者数量的增加，并造就了一个能够推动GDP增长的超级富豪阶层。

尽管中国是世界第二大经济体，但它仍然声称自己是发展中国家，逃避公平份额的义务费用，绕过严格遵守可持续发展要求。

Fok Ten Wong

I think most people are taking the rise of China too simplistic such as cheap labour, copying, stealing, advantage with the WTO, etc.

If that was the case, countries with huge population such as Nigeria, Indonesia, Vietnam, India, Mexco , Bangladesh India, Russia and many south American countries would have achieved similar economy results. Why were China attracting much more FDI than those countries in the past 30 years???

Of course China’s economy achievement was and still is very much related to its political system and the Chinese culture. Hard working, industrious, eagerness to work and ho to get rich, etc., was the driving force behind all the economic rise. The centralised planning is most crucial and the execution capability of the government was excellent.

As many of the western criticised and tried ways to sabotage, China just move ahead !!

Just go to China and stay for few months if not years, you will understand why China has raised to such heights!!

我认为大多数人把中国的崛起看得太简单了，比如廉价劳动力、抄袭、偷窃、加入世贸组织的优势等等。

如果是这样的话，尼日利亚、印度尼西亚、越南、印度、墨西哥、孟加拉国、俄罗斯和许多南美国家等人口众多的国家也同样能取得类似的经济成果呀。但是为什么中国在过去的30年里吸引了比这些国家多得多的外国投资 ?

当然，中国过去和现在的经济成就都与其政治制度和中国文化密切相关。努力工作、勤奋工作、渴望工作、希望致富等，是所有经济崛起背后的驱动力。集中规划是最关键的一点，政府的执行能力很好。

当许多西方国家批评和试图破坏时，中国还会继续勇往直前!!

只要去中国呆上几个月，你就会明白为什么中国能崛起到这个高度!!

Michael Ler

By investing in education, infrastructure, and building foreign relationships. While half the US curls up in the fetal position at the mere mention of affordable higher education the chinese have 8 STEM graduates for every one in the US and it-s double that for graduate students. While the US wastes $trillions upon $$trillions bombing foreign countries the chinese have been working hard on their new belt and road project which will benefit numerous countries both rich and poor. While the us spends about a $trillion a year on its “defense” budget china has been building up modern schools and modern hospitals and ensuring that their citizens are getting medically insured at a rate of 95%.

这是通过投资教育、基础设施和打造对外关系获得的。一提到费用可担的高等教育，就有一半的美国人畏惧退缩，而中国STEM毕业生与美国相比，比例达到了8比1，研究生的比例更是高达两倍。当美国投入数万亿美元去打仗，轰炸外国领土，中国人一直在努力建设他们新的“一带一路”项目，这将惠及许多国家，不分贫富。美国每年在“国防”预算上的开支高达数万亿美元，而中国一直投资建设现代学校和现代医院，确保95%的公民获得医疗保险的保障。

 译文来源：三泰虎 https://www.santaihu.com/p/51419.html  译者：Joyceliu

Rupesh Chauhan

Any economy is judge by its GDP and as far as yet china is near about 12.8 trillion dollars economy behind from United States whoes economy or GDP is 21.4 trillion dollars.

So we easily say that china is world second largest economy

任何经济体都是通过GDP来判断的，到目前为止，中国的经济总量大约是12.8万亿美元，落后于美国的21.4万亿美元。

可以说，中国是世界第二大经济体。

Zhou YU

China has more workers, while Japan is aging and losing population. As productivity continuously improves in China through better education, decent development policy and heavy infrastructure investment, the overall economy would overtake Japan.

中国有更多的工人，而日本正在面临老龄化和人口流失的窘境。中国正通过更好的教育、良好的发展政策和大量的基础设施投资不断提高生产力，整体经济超过日本。

继续阅读：中国经济   中国GDP

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