I guess as non-economists, some people don’t realise that GDP is a very poor metric to indicate the health of a country’s economy. For example, if China were to privatise its healthcare, public utilities such as water, electricity etc, its GDP could well exceed the US’s In nominal terms. As it is, it’s already higher in PPP terms.
Many, real, experts are saying that there is a 50:50 chance that the US might undergo a recession in the coming year. As it is, many Americans are struggling to even buy groceries, having to opt for BNPL schemes. A fat lot of good a high GDP is doing for them. Meanwhile in Thailand, I see red plated cars on the road everyday, restaurants are full of patrons and most Thais that I know are having a nice living. Thailand’s GDP isn’t in the top 10 either…