With the release of Japan's domestic GDP on February 15, the 2023 world GDP ranking has also been released. Looking at the list, we can find that there have been new changes in the world economic pattern. In terms of economic aggregate, Germany's GDP surpassed Japan's, successfully becoming the world's third largest economy, the United States still leads, followed by China, but the gap between China and the United States is widening.
The 2023 World GDP Rankings were announced, and the United States continued to lead the world, with a total GDP of 26$94 trillion; China followed with a total GDP of 17$70 trillion; Whereas Germany's GDP is 4At 42 trillion US dollars, it surpassed Japan to become the world's third-largest economy, and it was also the first time that Japan fell to the third place since it was overtaken by China in 2010.
However, it is worth noting that, according to the released data, Germany's own economic development will actually decline by 0 in 20233%, while Japan rose 19%, so why does Germany's GDP surpass Japan's?
In fact, this is due to the fact that both the euro and the yen are depreciating against the dollar, and the yen has depreciated by almost 69%, compared to less than 3% for the euro, and Germany's nominal GDP surpasses that of Japan in a back-and-forth of high inflation in Germany.
Another noteworthy point in this list is that the GDP gap between China and the United States is widening.
The GDP of the United States in 2022 is 25$4 trillion, or 18 percent of the global total8%, compared to China's GDP of 17$9 trillion, or 14 percent of the global total4%, the difference between the two is about 7$5 trillion.
In 2023, the U.S. GDP will be 2694 trillion dollars, China is 17$70 trillion, down from last year, with a difference of 9$24 trillion.
However, according to the data released by China**.com, China's GDP growth rate will be 52%, so why is my country's data this year lower than last year on the list?
In fact, this is similar to the above German GDP surpassing Japan, in 2023 due to the Federal Reserve's interest rate hike and other reasons, the RMB will depreciate sharply against the US dollar, so after converting to US dollars, our GDP will decrease. In addition, the United States will have a lot of inflation in 2023, and prices will rise, which will increase GDP. That's what makes the gap between China and the United States wider.
In summary, although Germany's nominal GDP exceeds Japan's, it is mainly due to a smaller depreciation against the US dollar, and the German and Japanese economies are also growing slowly.
We don't have to worry too much about the widening gap between China and the United States, the economic growth of the United States is due to the control of the global market by the dollar system, but our country is also actively taking measures to support the settlement of foreign trade in RMB, accelerate the process of RMB internationalization, and improve China's international status and discourse.