GDP is the sum of the gross value of all resident producers of a country
The GDP of the United States of America is 22,198.12 while that of china is 15,468.10 by the year 2 This means that the U.S. continues to be a greater economy (Lon, 2013).
US VS CHINA GDP
THE IS NO NEED TO write what is the definition of GDP. you must write the rise in GDP of each country throughout the years as showed in the graph and the reason behind that and mention events that took place that effected the GDP. THE GRAPH is not clear as the years are not showing, and it has to be with a citation under the graph to show where is from .
Per capita income of United States is 6.38 and 3.32 times greater than of China in nominal and PPP terms. Because of China’s large population, the gap in per capita income between these two countries is quite high more than four times the U.S. population.
The income per capita of the United States in nominal and PPP terms is 6.38 and 3.32 times higher than China’s. The U.S. is the world’s 8th richest country, while China ranks 72nd.
On a PPP basis, the U.S. is twelfth, and China is seventy-five. The U.S. and China are the two world’s biggest nominal and PPP economies. The U.S. ranks top nominally, while China has ranked top in PPP since 2020 after the U.S. has been overtaken.
Both countries contribute 40.75% of global GDP in nominal terms and 34.27% of gross GDP in 2019 (Moon & Yu, 2010).
Both countries have an immense GDP margin higher than third-class Japan (nominal) and India (PPP). So, just these two compete first.
US VS CHINA GDP PER CAPITA
This graph is also not clear as the years are not showing properly, and in text citation of the graph needed
The link between the US and China CPI inflation has more than doubled from 24% from 1994 to 2002 to 57% from 2004 to 2014. However, the link between money supply from M1 in the US and China has been negative, weakening from –59% between 1994 and 2002 to –28% between 2004 and 2014 (Zhang & Li, 2019)
Moreover, there has not been any significant shift in monetary and exchange rate policy toward closer policy coordination
You should have few more expiations of why has doubled what happened ?
Why there has not any significant shift in monetary and exchange rate policy toward closer policy coordination is there a reason behind that ????
In text citation for the graph
US VS CHINA UNEMPLOYMENT RATE
US has higher unemployment rate than china.Total non-farm income fell by 140,000 in December, and the unemployment rate remained constant at 6.7%. The fall in wage jobs illustrates the recent rise in coronavirus prevalence (COVID-19) and the pandemic.
This part has to be explained better . For both countries more evidence … what is happening ?