The World Bank updated GDP PPP data for the world's economies on Thursday. Russia is now fourth largest (ahead of Japan and Germany), while China is first.
The World Bank updated GDP PPP data for the world's economies on Thursday. Russia is now fourth largest (ahead of Japan and Germany), while China is first.
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Maybe libs will stop telling me Russia is roughly equivalent to Italy.
I find the cognitive dissonance hilarious. One the one hand, they like to dismiss Russia as having no industry or economy to speak of. On the other hand, Russia is about to roll over the entire Europe with their unstoppable orc army.
“By a continuous shifting of rhetorical focus, the enemies are at the same time too strong and too weak.”
We see basically the same arguments with China, though even the most deranged westoids get that China's GDP is high. But the same dissonant claims about their economy being about to collapse even though they are single handedly undermining US hegemony, their tech being behind even though they apparently live in a tech ruled surveillance state, etc.
Exactly, it's just an incoherent narrative born out of sheer panic and desperation.
The GDP of Russia isn't the PPP GDP of Russia. Internally Russian service and extraction sectors are cheap, which means intenrational PPP adjusted it is high. The GDP and non exports are much lower than Germanies and the indicator GDP PPP isn't that great to compare to the EWR.
Per person not too much changed, but the PPP GDP changed. However if it enables increase of productive facilities is an open question. If the service wage of a country decrease then that country will gain a short term boost in PPP GDP (till low income spending of service workers turn up in the statistics).