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Remember how their GDP, adjusted for population, used to be half that of the United States?
And if you go by GDP adjusted for purchasing power (to account for cost-of-living differences), the answer is a still plainer yes.
This flow provided the underlying energy for America's housing boom and bust.Recently released figures on metropolitan-area GDP, adjusted for inflation, reveal the sunbelt's multitudes.
Meanwhile China's share of global GDP, adjusted for purchasing power, has risen from 8.9% in 1913 to over 11% in 2000 and 13% last year.In terms of international trade, the difference between the two countries is even more dramatic.
"There is collaboration between the World Bank Waves [Wealth Accounting and the Valuation of Ecosystem Services] programme and the Natural Capital Coalition, which is great because hopefully we'll be able to harmonise measures of how you account for GDP adjusted for nature with measures of how you account for profit adjusted for nature," he says.
Based on calculations by Angus Maddison, an economic historian, a list of the ten biggest economies in 1897, ranked by GDP adjusted for differences in purchasing power, contains exactly the same names as in 1997, with one change: Spain's replacement by Brazil (see chart).
Similar(42)
Nor does GDP adjust for how the benefits are distributed.
Notes: The gross value of agricultural output is estimated from the agricultural GDP, adjusting it with a value added coefficient equal to 0.711 (from the 1994 Input-Output Matrix [INEI, 2000]).
Not only did we avoid a third slump; revisions to historic GDP statistics adjusted away the second dip, too.
Meanwhile, Filipinos are doing better under Duterte when per-capita GDP is adjusted by purchasing power parity (PPP).
They don't know, for example, that about one-half of the population in sub-Saharan Africa lives in countries where GDP growth, adjusted for inflation, has averaged more than 5percentt per year over the last two decades.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com