Analysis of GDP Situation Between China and the United States

: China and the United States are the two economic powers that the international community has paid the most attention to in recent years, and their GDP has always been a hot topic among the people and officials. First of all, because one of these two countries is capitalist and the other is socialist, their GDP development situation is also different. Population and social environment are both key factors affecting GDP. After looking up various papers and pictures, I found that although both countries' economies are on a growth trend, the objective fact is that the United States is far worse than China and even begins to decline. The reason is because of the huge social differences in the United States, there are many poor areas and relatively chaotic public order. On the other hand, China's domestic economy has been developing gradually since the 1980s when it was completely stable. Compared with the United States, the poverty gap is relatively small, public security is good, and the population is large. Therefore, China's current GDP is much higher than that of the United States. The research method is to combine the information found on the Internet such as pictures, papers, and so on to write a paper. Finally, it is concluded that the common feature of both China and the United States is that their GDP is rising gradually, but China's rate is much faster than that of the United States due to various reasons such as population and stable social environment. Because of the epidemic and its large social differences, the annual GDP growth rate and value of the United States lags far behind China


Introduction
In the background, China and the United States, as the two countries with the largest GDP growth in recent years, have been concerned.Based on data from 2005 to 2020, China's GDP has grown from $2.3 trillion to $14.9 trillion.America's GDP grew from $13 trillion to $20.8 trillion.It is estimated that by 2030, China will surpass the United States to become the world's largest economy.As the name suggests, the topic is the changes in the GDP of China and the United States, but the focus is still on the growth trend of the GDP of the two countries.I will study my goal by quoting foreign data charts and papers.In the period after World War II, the United States held the title of "world's first economy" for a long time.Still, with the rapid development of China in the 21st century, China has become the "world's second-largest economy" that is "very likely" to surpass the United States.Moreover, the concept of GDP itself also represents the strength of national power, which can be said to affect the world situation in a disguised way.Not to mention the two world powers, it can be said that studying GDP is also a disguised way to study the world trend, which is exactly the significance of studying the changing trend of GDP

Biggest Economies Over Time
According to data from the World Bank and IMF, Asian countries are expected to make up most of the top 5 countries in the world by size of GDP in 2024, (2) and China will be the largest economy.
The United States will become the largest second-largest economy [4].

Population Comparison
China is a large country with 18 percent of the world's population, and daily production is closely related to individuals.And IMF forecasts China's population to reach 1.4 billion by 2020, whereas the US population will reach 332 million.(3) And this is the 2018 forecast data, but for the epidemic, perhaps China would have become the largest economy.In addition, the population itself will continue to increase, and in recent years, the value of RMB has been very stable, the US dollar has been expanding in recent years, and it is unstable, and the population growth of the United States is not fixed, it is not surprising that China surpasses it.All major websites believe that in 2024, the total number of people in the United States and China will temporarily remain in the situation of 2022.Of these, 300 million are in the United States and 1.4 billion are in China.GDP per capita will not change much from 2023.China's per capita GDP is $14,800.America's per capita GDP is $82,000.China's GDP will grow by 5.5 percent from 2023-2024.The United States, while maintaining its economic success as the largest economy, will grow by only 1.7 percent [5].Objectively speaking, it is due to the failure to control the COVID-19 pandemic in 2020, which has caused the GDP of the United States to slow down since the pandemic.Having said the current situation, next, based on the economic numerical characteristics of China and the United States to speculate on the future economic trend of China and the United States.First, at the current pace, it is indeed highly likely that China will become the largest economy in 2025 because the United States has not fully recovered from the losses suffered after the epidemic.The Biden administration's immigration policies have led to social and environmental turmoil, as well as its aid to Ukraine and Israel.The foundation of the United States is indeed very strong, but it cannot withstand these policies.Moreover, the United States used to provide economic aid to Ukraine and Israel, but Ukraine can't do it, and it can't keep spending money, so it stopped giving aid to Ukraine.These things can be inferred from the details of objective events if you keep watching the news.To put it crudely, if this country wasn't the United States of families and businessmen, it would have been lost during the pandemic.In contrast, China fought a war for more than half a century in the 20th century, that is, the domestic situation gradually stabilized and developed steadily from the 1980s.GDP is already higher than that of the United States [6].Moreover, the United States was not without this situation during the Bush administration, and it was during the 8 years of the Bush administration that China had the opportunity to develop and thus have the rapid development now.Moreover, some associations predict that in the next year, China is the most hopeful country to exceed 20 trillion US dollars, and the United States only has more than a 4 trillion gap [7][8].

Conclusion
China's economic growth has been steep since the 1990s, while India and Indonesia have even more recently entered the top 10 of the biggest economies in the world and are expected to reach ranks 3 and 5 by 2024.Asian multinationals, like China's Huawei and India's Tata, have already emerged in this century and more are expected to appear on the global scene.(4) The U.S. economy has expanded in recent years, and the population has not grown.The likelihood of a decline in GDP, combined with the above charts, suggests that China is well positioned to overtake the US as the largest economy.The significance of this paper is to take the two major economies in the "2023" stage as the main body to analyze the relationship between China and the United States in the future GDP position, as well as the impact of GDP strength on other large economies in the world in the future.In the future, I can also analyze GDP trends by population size, or analyze other countries with lower GDP in the top ten.The deficiency is that I have not been able to find more papers, and more mixed subjective views to write this pap.

Figure 2 :
Figure 2: Population compression in the United States and China [2].
Proceedings of the 2nd International Conference on Management Research and Economic Development DOI: 10.54254/2754-1169/93/20241080 Proceedings of the 2nd International Conference on Management Research and Economic Development DOI: 10.54254/2754-1169/93/20241080