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Wen I dreamed of the night nine songs
Edited I Night
At this moment, let go of the things you don't want to care about and enjoy your happy time
The content of this article is written with authoritative information combined with personal opinions, and the source and screenshots of the literature have been marked in the article and at the end of the article, please be aware
With the end of the first quarter of 2024, each country has announced the GDP of the first quarter, and so far the GDP data of the three major economies of China, the United States and Japan have been fully released, and the GDP of the United States, as the world's largest economy today, has exceeded 7 trillion.
Japan used to be the world's second largest economy, but Japan's GDP in the first quarter was not satisfactory, only 1 trillion, so what was China's GDP in the first quarter of this year?
As we all know, to measure whether a country is strong, it depends on whether its economy is underdeveloped, once China's economy is indeed very backward, but after the reform and opening up, China's economy has entered a period of rapid development, and finally in 2010, China surpassed Japan to officially become the world's second largest economy.
Of course, in addition to the economy, the quality of scientific and technological development is also a measure of the country's strength, such as chip technology, communication technology and aerospace technology, obviously China has developed very well in these aspects.
Not only that, China is also a big trading country, we occupy an important position in international trade, "Made in China" has become synonymous with us, it is precisely because of China's all-round development that we have become the world's second largest economy.
As the world's largest economy, the United States has a perennial GDP ranking first, but due to the current global instability and the global economy has been hit hard, the U.S. GDP, as the largest economy, has attracted much attention all year round.
You must know that at the time of World War I, the United States was not the most economically powerful country, and it was not until after the Second Industrial Revolution that the American economy began to develop rapidly, and after the end of World War II, the United States began to absorb talents from all over the world, and its economic strength began to be proud of the world.
On April 25 this year, the U.S. Department of Commerce announced that the total GDP of the United States in the first quarter of 2024 was 707 million US dollars, an increase of 1.6% compared with the same period last year, and the annualized GDP value was as high as 28.28 trillion US dollars.
In today's global economy, it is not easy for the U.S. economy to still grow, of course, in addition to GDP growth, the U.S. consumer price index (CPI) has also risen significantly.
Now think about it, why the GDP of the United States increased in the first quarter, it is likely that the increase in purchasing power due to rising prices will increase, so the proportion of household consumption will increase, which is not a good thing for the American people.
Although on the whole, the GDP of the United States is indeed rising, the rise in prices will certainly cause dissatisfaction among the American people, and the reason for the rise in prices in the United States may be related to the increase in tariffs by the United States on China.
As we all know, China and the United States, as the two largest economies in the world today, have a lot of trade between the two sides, and before the tariff increase, Chinese goods are very cost-effective, and the prices are much cheaper than American goods.
However, with the increase in tariffs, the price of Chinese goods has also risen, so they can only pay more for the same goods, and the GDP growth of the United States is very strong, but Japan, as the "little brother", their economy does not seem to grow much.
Japan once had a glorious period, as the world's second largest economy, Japan once reached 80% of the GDP of the United States with only 100 million people, and even because of its development, Japan was able to surpass the United States economically.
During the period of four years and three months between December 1986 and February 1991, Japan's economy exploded, and because the economy was so magical, this period is also known as Japan's "bubble economy".
At that time, 32 of the world's 50 highest-grossing companies were Japanese, among which Japan Telecom, Industrial Bank, Sumitomo Bank, Fuji Bank, and Dai-ichi Kanye Bank were among the top five companies in the world.
Because the economic development was so good, many Japanese people were particularly inflated at that time, and many people even claimed to use the Tokyo area to buy the entire United States, which is enough to show how good Japan's economic development was at that time, and then the United States began to impose sanctions on the latter in order to restrict Japan's development.
As a result, Japan's economy collapsed and plunged into the Great Depression, so much so that in the decades since, the Japanese economy has never regained its former glory, and in 2010, Japan was overtaken by China.
At present, Japan's economy is still sluggish, and the GDP in the first quarter of this year fell to 1,008.2 billion US dollars.
Since the GDP of the United States and Japan in the first quarter is clear, what is China's GDP in the first quarter of this year, from the data point of view, in the first quarter of this year, China's total GDP is about 2.9 billion yuan, which is converted into about 417 million US dollars.
As a major industrial manufacturing country, China's industrial industry accounts for a large part of GDP, with a year-on-year increase of 6.0%, although China's economic growth in the first quarter was not as much as that of the United States, but it has reached 60% of the GDP of the United States.
And China's economy has a characteristic, that is, it is very stable, and it is difficult for China to have an economic collapse, especially during the epidemic period, when the world's economy is declining, China is the only country whose economy is rising instead of falling.
This is enough to see that China's economy has a strong resilience, at present, the mainland's GDP is close to about 80% of the United States, although in a short period of time, it is difficult for China to catch up with the United States economically, but I believe that over time, China will be able to lead the United States economically.
China's GDP performance is surprising, the economy has not been seriously affected by the US dollar interest rate hike, maintaining a strong growth momentum, China's industry has been in a period of rapid development, and will certainly show greater economic vitality and potential in the future.
Resources:
National Bureau of Statistics, "The National Economy Achieved a Good Start in the First Quarter", 2024.4.16
Guangming.com, "Japan's GDP in the first quarter fell by 2.0% year-on-year, or affected by the Toyota scandal, earthquake, etc.", 2024.5.16
China News Network "U.S. Economic Growth Slowed Down Sharply in the First Quarter, U.S. Media: Obviously Lost Growth Momentum" 2024.4.26