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The GDP and consumption expenditure of U.S.
2. Trade Balance and external debt of U.S.
For some time now we have been eulogizing the emergence of China and India in the
world economic forum. However the GDP of China is at $3.3 Trillion and that of India is 1.1 trillion. The GDP of us stands at a staggering $13.8 trillion (World Bank estimates).
Even at purchasing power parity (ppp) or simply the law of one price-U.S.’ GDP is double of that of any country. In fact the U.S. and European Union together correspond to nearly 45% of world’s GDP. Now, take into account the fact that by nature Indians and Chinese are savers...
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