It is important to distinguish between "PPP GDP" and "GDP". They are 2 totally different things.
When you are using economic comparators between nations, the standard benchmark is "GDP" , sometimes called "Nominal GDP". It is the sum of what the countries actually produce. So, if you want meaningful comparative figures, here they are:-
You will see that, by this measure, the 2 biggest economies are USA and China.
The G7 countries rank 1/3/4/5/7/8/9. Total 2023 GDP of $48 trillion-take out USA, the rest = $22.1 Trillion
BRICS rank 2/6/11/12/34. Total $27.8 Trillion-take out China and it is $7.8 Trillion.
PPP GDP is not meant for use in international comparisons between nations. It is designed to show purchasing power of the individuals within those countries. Taking into account cheaper housing, cheaper prices (because of lower wages).
BRICS countries, while mostly poor, have large populations. The near-50% of the world's population do have roughly 31.5% of GDP.
But the lie is that it compares BRICS GDP with the G7's PPP GDP. So-a totally misleading picture.
The G7 have over 50% of the World's GDP. Even though it only has 10% of the World's population.
And to pretend otherwise is economically illiterate.
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It is important to distinguish between "PPP GDP" and "GDP". They are 2 totally different things.
When you are using economic comparators between nations, the standard benchmark is "GDP" , sometimes called "Nominal GDP". It is the sum of what the countries actually produce. So, if you want meaningful comparative figures, here they are:-
https://ceoworld.biz/2022/03/31/economy-rankings-largest-countries-by-gdp-2022/#:~:text=Largest countries by GDP, 2022 , 3843.335 21 more rows
You will see that, by this measure, the 2 biggest economies are USA and China.
The G7 countries rank 1/3/4/5/7/8/9. Total 2023 GDP of $48 trillion-take out USA, the rest = $22.1 Trillion
BRICS rank 2/6/11/12/34. Total $27.8 Trillion-take out China and it is $7.8 Trillion.
PPP GDP is not meant for use in international comparisons between nations. It is designed to show purchasing power of the individuals within those countries. Taking into account cheaper housing, cheaper prices (because of lower wages).
BRICS countries, while mostly poor, have large populations. The near-50% of the world's population do have roughly 31.5% of GDP.
But the lie is that it compares BRICS GDP with the G7's PPP GDP. So-a totally misleading picture.
The G7 have over 50% of the World's GDP. Even though it only has 10% of the World's population.
And to pretend otherwise is economically illiterate.
https://www.dailymail.co.uk/news/article-11920455/QAnon-Shaman-Jacob-Chansley-released-early-prison-halfway-house-lawyer-says.html