The US Economy Is 25% Of the Global GDP with just 334 million (4.25% of the global population) This is extremely important to understand because it gives you the context required to better understand so many various narratives that are pushed all over media and politics.
Here are some examples
China has 1.45 billion people (18.5% of the global population) producing $18 trillion (18%) of the Global GDP.
India has 1.4 billion people (18% of the global population) producing $3.4 trillion (03%) of the Global GDP.
Russia has 146 million people (1.87% of the global population) producing $2 trillion (01.9%) of the Global GDP.
BRICS combined has 3.3 billion people (43% of the global population) producing $26 trillion (26%) of the Global GDP.
*3.3 Billion people can barely match the economic output of the 334 million people.
*The wealthier 3.3 billion people become the more customers the 334 million Americans will have to profit from. As such it is not bad for the US if BRICS could grow their GDP. The complete opposite is true. 334 million Americans will have 10 times more customers who can afford high-end goods and services for more profit.
*That means the US $ will strengthen if the BRICS could manage to become wealthier with 5 different political powers looking out for themselves rather than the whole. Good luck with that!
*Russia's 1.9% of global GDP is no match for the US's 25% of global GDP, let alone 32 NATO member nations, or the 50 counties supporting Ukraine. Putin has literally committed economic suicide on behalf of all Russians. This is a humanitarian crisis with absolutely no benefit to Russia even if they could conquer Ukraine and all of the former Soviet block. Scorched earth is not conducive to a healthy vibrant economy.
These are just a few examples of how this little bit of information can help people better understand the context of silly or accurate narratives that are flying around all over the place constantly that sound good but have no basis in reality.
Top 50 companies of the entire world contribute over 26 trillion to worlds gdp. How many employees is that vs the population of USA? A few hundred tesla engineers, few hundred Netflix devs, maybe a thousand engineers working on the iPhone at Apple (50% AAPL rev), maybe another thousand in the google search team(60% GOOG rev), so this is maybe 5000 individuals tops? carry how many trillions on their backs alone? What percentage is this to the population of USA?
Wanna compare people, how much actual productive real output they bring into the world, go right ahead.
RealMacro
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@anuragojha, As the private sector should. Why is that surprising to you?
anuragojha
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@RealMacro, I am all for more "X Billion people can barely match the economic output of the Y million/thousand/hundred people" hot takes. As someone who is and will always be a citizen of the 3.3b BRIC people but sitting squarely in the 0.1% cohort within USA, ill just say there are many ways to cut that GDP pie.
RealMacro
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@anuragojha, Blaming the A+ student won't help 3.3 billion people unfortunately.
wellthere
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Don't forget Brazil. Not sure what the future will be but NATO politicians seem to be pushing against peace.
RealMacro
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@wellthere, B(RICS) is also a disaster area with 217 million (2.73%) of Global pop. is producing only 1.9% of the global GDP. That's why their 10-year bond yield is 10%+.
Russia invaded Ukraine, not NATO politicians. NATO politicians cannot force Putin to be peaceful. Anytime Putin the tyrant wants peace he can withdraw from Ukraine knowing NATO and Ukraine will not attack him. That is the best offer he is going to get.
A few hundred tesla engineers, few hundred Netflix devs, maybe a thousand engineers working on the iPhone at Apple (50% AAPL rev), maybe another thousand in the google search team(60% GOOG rev), so this is maybe 5000 individuals tops? carry how many trillions on their backs alone? What percentage is this to the population of USA?
Wanna compare people, how much actual productive real output they bring into the world, go right ahead.