mid-high income class, reaching ~$10 000 GDP per capita based on nominal rate last year. This is a great accomplishment, indicating that people in China have enjoyed relatively high standard life.
If considering the actual economic scale of China, however, the GDP per capita could be as high as $29 000 last year. This is even higher than the ppp-based GPD per capita (see the CIA World Factbook website)!
Why is so? A single measure is that China annual electricity production per capita (AEPPC) has reached 5000 kwh, higher than those countries with GDP per capita $29 000.
Interestingly, China AEPPC is little shorter than 50% of the USA AEPPC, suggesting or consistent with the estimate that China GDP per capita is bit less than 50% of the US counterpart ($60 000) if the physical law is right.
Obviously, China needs build up more stronger muscles to protect the nation safety and security. Currently, China defense budget appears too low when compared with the States. There is a significant space to increase investment on the national defense systems. A reasonable rate should be around 4% of GDP. In other words, China defense budget needs doubled.
If considering the actual economic scale of China, however, the GDP per capita could be as high as $29 000 last year. This is even higher than the ppp-based GPD per capita (see the CIA World Factbook website)!
Why is so? A single measure is that China annual electricity production per capita (AEPPC) has reached 5000 kwh, higher than those countries with GDP per capita $29 000.
Interestingly, China AEPPC is little shorter than 50% of the USA AEPPC, suggesting or consistent with the estimate that China GDP per capita is bit less than 50% of the US counterpart ($60 000) if the physical law is right.
Obviously, China needs build up more stronger muscles to protect the nation safety and security. Currently, China defense budget appears too low when compared with the States. There is a significant space to increase investment on the national defense systems. A reasonable rate should be around 4% of GDP. In other words, China defense budget needs doubled.
