was ~$150 US, if he or she has a basic knowledge how the economy works.
Last year (2017), China GDP per capita was ~$9200 US based on the official exchange rate. However, this figure was much underestimated if annual electricity consumption per capita (AECPC) is considered. Last year, China AECPC was 4500 kwh, while USA was 11000 kwh. This indicates that the USA was 2.5 times the China AECPC, suggesting that USA GPD per capita ($ 59500) in 2017 should be also 2.5 times the China counterpart given the physical law is correct. However, a contradiction arises when comparing the official GPD per capita of USA to China, $59500 versus $9200, i.e. the USA 6.5 times higher than the China.
The conclusion is 1) the China GDP per capita in 2017 was much underestimated if the UAS figure and physical are right.
2) China GDP per capita in 2017 must be $23800 (i.e. $59500 is divided by 2.5 = $23800), rather than the
officially announced figure $9200.
3) Similarly, China GDP per capita in 1978 was also much underestimated.
This simple finding may raise interests of many people including the main-stream economists in both USA and China because the physical law cannot lie. Therefore, China 2017 total GDP should be $32.6 trillions US, that is even higher than the figure based on PPP - $23.5 trillions.
DATA are from the CIA World Factbook website.
Last year (2017), China GDP per capita was ~$9200 US based on the official exchange rate. However, this figure was much underestimated if annual electricity consumption per capita (AECPC) is considered. Last year, China AECPC was 4500 kwh, while USA was 11000 kwh. This indicates that the USA was 2.5 times the China AECPC, suggesting that USA GPD per capita ($ 59500) in 2017 should be also 2.5 times the China counterpart given the physical law is correct. However, a contradiction arises when comparing the official GPD per capita of USA to China, $59500 versus $9200, i.e. the USA 6.5 times higher than the China.
The conclusion is 1) the China GDP per capita in 2017 was much underestimated if the UAS figure and physical are right.
2) China GDP per capita in 2017 must be $23800 (i.e. $59500 is divided by 2.5 = $23800), rather than the
officially announced figure $9200.
3) Similarly, China GDP per capita in 1978 was also much underestimated.
This simple finding may raise interests of many people including the main-stream economists in both USA and China because the physical law cannot lie. Therefore, China 2017 total GDP should be $32.6 trillions US, that is even higher than the figure based on PPP - $23.5 trillions.
DATA are from the CIA World Factbook website.
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