/sci/ - Science & Math

[Anonymous No.9554146]

The countries with the highest GDP in the world are the US and China.

US: 18 trillion

China: 13 trillion

But the US is in 21 trillion dollars of debt, and China has 4 trillion dollars of debt.

Would that make China the world's richest country?

[Anonymous No.9554157]

>>9554146
>Would that make China the world's richest country?

Soon they will be. Their average IQ is 105 IIRC

[Anonymous No.9554181]

>>9554146
Subtracting debt from GDP doesn't make any sense. For one thing, GDP is $/yr and debt is $.

[Anonymous No.9554189]

>>9554146
>Would that make China the world's richest country?
jews are working on it diversity IS a strength

[Anonymous No.9554196]

>>9554146
18 - 13 = 5 trillion. the difference between our gdp and there's is more than their debt, and more than ours after about 4 years

that's a huge difference

[Anonymous No.9554202]

>>9554189
You are right. In the next generation, the average European IQ will already be borderline retarded.

[Anonymous No.9554205]

>>9554146
If a doctor makes $180K / year and has 160K in medical school debt is a McDonald's employee making minimum wage with 5K in debt wealthier?

[Anonymous No.9554214]

>>9554205
kek

[Anonymous No.9554216]

>>9554181
>GDP is $/yr and debt is $.

So how would we determine which country is the richest?

[Anonymous No.9554235]

>>9554146
GDP isn't like the total wealth a country has, it's just a measure of money per year. There's like nearly 90 trillion dollars in wealth in the United States.

[Anonymous No.9554239]

>>9554216
Just use GDP, this isn't complicated and national debt isn't actually a bad thing, it's a essential feature of how the world economy works.

[Anonymous No.9554242]

>>9554216
gdp you dumb faggot

who cares about debt

[Anonymous No.9554245]

>>9554202
they "fixed" that already by normalizing on 100

[Anonymous No.9554251]

>>9554146
Most of a government's public debt is owed overwhelmingly to people and institutions within the country anyway

[Anonymous No.9554259]

>>9554216
>>9554235
>>9554239
>>9554242
GDP only gives you how much money is made. It doesn't tell you anything about wealth (i.e. assets owned) Ask people in places like Silicon Valley, NYC or London - all of these places have insane cost of living that greatly diminishes the value of the higher salaries.

Here's an assessment of per capita wealth by countries (sort by median)
https://en.wikipedia.org/wiki/List_of_countries_by_wealth_per_adult

Another good measure to look at is Productivity
https://data.oecd.org/lprdty/gdp-per-hour-worked.htm

This accounts for the fact that e.g. Americans typically work 40+ hr weeks while many Western Europeans work for far less despite earning the same per hour (and especially this metric paints Japan/SKorea in a bad light since they work for so long)

[Anonymous No.9554261]

>>9554235
>it's just a measure of money per year.
terrible way to phrase it. GDP is the value of all final goods and services produced in a year which is equal to the sum of all the value added in a year which is also equal to the sum of all incomes in a year

[Anonymous No.9554264]

>>9554261
Yeah, I've taken a few courses on macroeconomics, I realize how GDP is formulated. I figured that didn't matter much considering OP made a new thread for this instead of going to the /sqt/

[Anonymous No.9554270]

>>9554216
assets - liabilities :^)
But someone has to go out and measure what literally every single thing in USA and China are worth within a reasonable timespan

[Anonymous No.9554275]

>>9554259
That's stupid and unnecessarily overcomplicated. It doesn't matter at all if you worked extra hours to make the money you have in the bank, it's still the money you have in the bank. And the majority of wealth isn't paid out by the hour in the first place. You can't know how much time was spent for anyone working salary for example.

[Anonymous No.9554278]

>>9554270
>assets-liabilities
Triggered from every macro Econ class I’ve taken that’s discussed the banking system.

[Anonymous No.9554285]

>>9554146
Western IQ is decreasing by interbreeding with niggers. Chink IQ is not.

[Anonymous No.9554350]

china has been internally bankrupt for years that's why they have to build railroads to nowhere in africa, and now they have a supreme leader to attempt to quell the shitstorm when people find out

[Anonymous No.9554460]

>>9554350
>china has been internally bankrupt for years that's why they have to build railroads to nowhere in africa

what did he mean by this

[Anonymous No.9554488]

>>9554460

>don't trust chinks

[Anonymous No.9554515]

>>9554350
Those railroads go to places though. Nice try going for the China-Africa panic button

[Anonymous No.9554519]

>>9554146
You misunderstand what debt represents. Also, >>>/biz/

[Anonymous No.9554553]

>>9554157
>self reported
>actually trusting those fucking ants

[Anonymous No.9554610]

>>9554157
>Self reported and skewed by the government
>Massive amounts of poverty
I wouldn't trust the bugmen

[Anonymous No.9554617]

>>9554259
That doesn't make any sense. When the wealth of an individual is determined it's assets + cash. GDP is pure wealth. Determining the assets of an individual is bad enough, are you suggesting that in order to settle this there should be someone measuring the dollar value of everything that exists in the US and China?

[Anonymous No.9554740]

Burgerland is done for, Europe is in a tight spot, that pretty much leaves Asia and the Russians left

[Anonymous No.9554877]

>>9554617
>GDP is pure wealth
No its not you idiot, just repeating your fallacious stance doesnt suddenly make it true.

[Anonymous No.9554898]

>>9554205
After the first year, quite possibly.
He will also be healthier.

[Anonymous No.9554941]

No, because there isn't as much as employment in China with their GDP being much lower than ours. Debt is an issue that doesn't necessarily impact the nation's standard of living.

[Anonymous No.9554963]

>>9554259
So GDP doesn't include how much money the country is losing in a year or how wealthy individuals in that country are? How would we find this information then, I googled "net income US" and there was nothing related.

>>9554941
The unemployment rates for both countries are the same tho.