In fact, the GDP calculated by this exchange rate is not accurate at all. If you come to the United States, you will find that the United States is like a third world country, which is why the World Bank uses the purchasing power of money to measure the economy. As far as purchasing power is concerned, I was a little suspicious that China surpassed the United States before I came to the United States, but I stopped doubting it after I came here. For example, the GDP of New Orleans is $6543.8+090 billion, and it is definitely a big city in China. After all, Shenzhen is only over $200 billion. But New Orleans can't compare with Shenzhen. Too small! ! ! There are not many decent high-rise buildings, and there are not many good enterprises in Shenzhen (it can be said that there are none). You're welcome. It's like a small town in Shenzhen, with dilapidated roads and old houses. But why is its GDP so high? Because the purchasing power of money is different!
Speaking of Shenzhen, the fourth largest city in China, I think of Houston, the fourth largest city in the United States. Its famous industries are aerospace and biomedicine, with a GDP of over 500 billion. It looks much better, almost twice as much as Shenzhen, the fourth largest city in China. It seems to show how developed and prosperous this city is. But I was disappointed when I went to Houston. Despite the large scale of the city, except for a few buildings in the center of the city, the rest are low-rise houses (all American cities are like this, except new york, a big city in China), and the municipal construction is poor. Like other American cities, there are many beggars and homeless people everywhere. According to China's standards, which city is this? How can it compare with the scale of Shenzhen? Perhaps some people still doubt it, so let's look at their respective foreign trade situation. Houston, with more than 500 billion dollars, only got more than 200 billion dollars in foreign trade, while Shenzhen, with more than 200 billion dollars, had more than 400 billion dollars in foreign trade. So by China's standards, the United States may be overvalued. This is why there is a big misunderstanding in calculating GDP with exchange rate.
In fact, on the whole, the economic aggregate of the United States is not as good as that of China. The key is that China is still developing rapidly, and the United States, which was by your side ten years ago, will be by your side ten years later. But China is different. If I don't go home every year, I can hardly recognize our hometown. When it comes to the gap between the rich and the poor, in fact, the United States is not much better or even worse than China. Of course, in the United States, the poor will have more security and welfare than the poor in China. At least the government will guarantee their basic livelihood, which is impossible in China at present. Moreover, the main problems in China are too large population and unbalanced economy, especially the poor infrastructure and environment in the western region and rural areas. But these are all developing problems, and western countries used to do the same. If China can solve these problems in the future, then China will crush the United States!