It is standard for politicians, reporters, and columnists to refer to the United States as the world’s largest economy and China as the second largest. I
Their use of nominal GDP while ignoring GDP PPP reminds me of the Tokyo olympics. While China had more gold medals than USA, American news were using the total medal count to sort countries, instead of sorting them by gold medal count. At the final day of the olympics USA surpassed China in gold medals (39 vs 38), and thus the American news returned back to the traditional gold medal count for sorting the countries.
Their use of nominal GDP while ignoring GDP PPP reminds me of the Tokyo olympics. While China had more gold medals than USA, American news were using the total medal count to sort countries, instead of sorting them by gold medal count. At the final day of the olympics USA surpassed China in gold medals (39 vs 38), and thus the American news returned back to the traditional gold medal count for sorting the countries.
LMAO I remember that.