According to the latest release by the IMF**, the global economy will exceed $100 trillion in 2023, of which the US GDP will reach 2685 trillion dollars, Japan 441 trillion dollars, 431 trillion dollars, India more than 374 trillion US dollars, while China's total GDP will reach 19$37 trillion.
The U.S. economy has performed well due to two factors. First of all, high domestic inflation has pushed up consumption levels, which in turn has pushed up the size of GDP. Second, the Fed's successive interest rate hikes have led to an increase in the value of the dollar, giving the United States an advantage in GDP measurement.
In contrast, Japan's GDP growth has been slow, mainly due to weak consumption and investment demand due to an aging and declining birthrate, and the continued depreciation of the yen against the US dollar, which has affected the calculation of the real size.
Germany is facing the impact of the Russia-Ukraine war, which has led to rising manufacturing costs for energy and raw materials, and a decline in manufacturing investment demand, resulting in negative GDP growth in Germany.
India became the world's fastest-growing country in terms of GDP growth, with an increase of 59%, mainly benefiting from the relocation of manufacturing to India by a large number of foreign companies and the support of the young population dividend.
China's economy has recovered rapidly after the relaxation of epidemic controls, and GDP growth is expected to be 52%, showing strong stamina and resilience. However, China's real GDP size may be underestimated due to the appreciation of the US dollar and the depreciation of the RMB, and the GDP gap between China and the United States may narrow further as the dollar index retreats.
In general, the economic performance of countries around the world is complex and volatile, affected by inflation, exchange rate fluctuations, geopolitics and other factors. China has shown resilience in the economic recovery, but it still needs to pay attention to the potential impact of exchange rate changes on GDP measurement.