It’s even worse when everything is accounted in USD. A currency that is losing it’s value and inflates the importance of western countries in global economy.
A public official grew a braincell?
This is the future indeed!
Unfortunately GDP is more or less equivalent to the power a nation can project. So more GDP=Bigger stick. He knows this, so it feels like empty words from him now.
Imo we need to get rid of nations to move past this. Even getting rid of capitalism in isolation wouldn’t change anything.
GDP doesn’t mean or measure anything concrete. Especially the nominal GDP. Your economy might be just banking services and for average person has really tough times making ends meet thanks to massive cost of living problem, but hey all it makes few people very wealthy and the big number go up in terms of USD. You can’t even fight a war because all manufacturing got outsourced because local labor is unaffordable and the military is dependent on existing stockpiles and there is no idle manufacturing capacity to ramp up in case of emergencies so you don’t even have power projection or “bigger stick”.
Then some middle income country with healthy manufacturing base, natural resources, growing middle class, own army with it’s own arms supply chain for the basics, but it ranks bellow you in GDP.
It’ll be a start to have a 9DP, the GDP of the bottom 90%.
Nah ,to late for that
