Hot Engine Plan In the Sino-US economic arena, the results of the 2023 game have been released. Both China and the United States have seen the world's performance, with China's GDP growing 52%, and the U.S. increased by 25%, China's growth rate is more than twice that of the United States. However, if you look deeper, you will see new trends emerging on the global economic map. The total GDP of the United States is as high as 2773 trillion US dollars, while China's total GDP in US dollar terms is 1789 trillion. By comparison, China is only 65 percent of the United States, and is getting farther and farther away from the previous level of 70 percent.
There are many reasons for the widening GDP gap between China and the United States. The first is the depreciation of the renminbi, which means that the GDP performance of the renminbi against the dollar has declined. Another major factor is that high inflation in the United States has driven its GDP growth. Despite this, the gap in GDP between the two countries still exists, and it will take time for Di to close the gap. Moreover, there are differences in the composition and statistical methods of GDP between the two countries, so GDP can only be used as an approximate comparative indicator at best. However, there is one thing that we need to pay attention to, and that is that when we release economic data, we usually use GDP instead of directly mentioning GDP. This means that the statistical method of GDP in our country is based on the production method, which is an interesting detail of the economic map of our country.
Next, we will explore three major industries: agriculture (primary industry), industry and construction (secondary industry), and a broad tertiary industry including distribution and services. Among them, wholesale and retail, catering, etc. belong to the circulation sector, and finance, Internet, culture, health, sports, etc. all belong to the service sector. Taking 2023 as an example, in the composition of China's GDP, the added value of the primary industry will be 8,975.5 billion yuan, accounting for 712%, the added value of the secondary industry was 482589 billion yuan, accounting for 3828%, the added value of the tertiary industry was 688238 billion yuan, accounting for 546%, which shows its importance. Turning internationally, we note that the disparity in GDP distribution between China and the United States is even greater. The United States, as the world's largest agricultural country, accounts for only 105%。And China, despite having an agricultural population of 500 million, accounts for 36 percent of the country's total population11%, but our level of agricultural production is still far behind that of the United States. Entering the manufacturing sector, manufacturing in the United States accounts for 18 percent of its GDP01%, and China's manufacturing industry accounts for 27 percent of GDP7%。For 14 years in a row, our manufacturing industry has ranked first in the world, producing 1% of the GDP of the United States78 times more. Although the United States has outsourced many low- and mid-end manufacturing, its manufacturing as a share of GDP is rising year by year.
When it comes to personal consumption, the United States is undoubtedly the best in the world. Personal consumption accounts for almost 70% of its GDP, a huge proportion of Americans' purchases and purchases, as well as huge fiscal spending to drive economic growth. Combing through the economic portraits of China and the United States, we see the naked gap, but also see countless possibilities. Unfortunately, chasing U.S. GDP is not easy. They can think on a whim, and just add a single expense to a trillion-dollar dollar. Therefore, it is not of much significance to compare the total GDP, and what can really see the difference between the two countries may be the income level of each person. In any case, the showdown between the two countries continues, and every year's GDP reveals new economic phenomena, trends and opportunities for us.