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The dollar's dominance will be reduced only when some other country emerges with a large enough GDP and tax capacity to compete with the US in providing a reserve currency.
It spawned a Bric summit, or rather a Brics summit, for South Africa was co-opted as a member of the club, even though it did not have a large enough GDP formally to qualify.
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Note, similar statistics could emerge in the random graphs when a nodal degree distribution in the graph follows asymptotically (at large enough m) GDP function with constant exponent (k+1), where k+1≈3 and b=0 [ 17].
That's significant, but when all is said and done competition with China affects only a few percent of GDP — enough to matter, but not enough to make cost competition on that front nearly as important as cost competition between US states.
It was enough to increase GDP by just over the government's minimum threshold of 7.5%.
The combined fiscal effect would be worth 3.5%-5 3.5%-5%, enofGDPto tip thenoughomy back into recession.
In theory this could save up to 6-7% of GDP, enough to bring Russia's budget into balance.
For example, many countries in sub-Saharan Africa do not update their reporting often enough, so their GDP numbers may miss large and fast-growing economic sectors, like cell phones.
Yes, we have a happiness index and unemployment statistics, but with the huge gaps left out by our national measure, the time has come to ask, is GDP enough to show national progress?
If gridlock is such that all projected tax rises and spending cuts take effect, America's economy could take a hit equal to 4% of GDP, enough to seriously harm the world economy.
It identified a moment of industrial take-off, when countries saved enough of their GDP to foster investment and thence an industrial revolution, and development economics went ahead, with an assumption that squeezing peasants would mean investment for big industry.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com