Probably closer to $10bln. Their numbers are completely made up.
RE: Probably closer to $10bln.
Billion with a B? You can’t be serious.
[Probably closer to $10bln. Their numbers are completely made up.]
https://www.reuters.com/business/autos-transportation/china-2023-vehicle-sales-rise-12-industry-association-2024-01-11/#:~:text=BEIJING%2C%20Jan%2011%20(Reuters),on%20the%20year%2C%20CAAM%20said.
https://www.marklines.com/en/statistics/flash_sales/automotive-sales-in-mexico-by-month-2023#:~:text=In%202023%2C%20Mexican%20light%20vehicle,had%20increased%2011.5%25%20from%202022.
China has 1.4b people to Mexico’s 122m, about 11x. Mexico’s GDP is $1.4t. Chinese car sales are over 20x Mexico’s. It’s not a big stretch to think China’s GDP is at least 11x Mexico’s.
Another indicator is migrant flows. Per capita, despite serious economic ructions, the Chinese migrant flow into the US is 1/10 Mexico’s. But China’s population is 11x Mexico’s. In other words, per capita, the Chinese illegal alien flow into the US is under 1% of Mexico’s. This suggests that as bad as things are in China, they’re perhaps no worse off than in Mexico,
In other words, Chinese GDP per capita is no lower than Mexico’s, and with 11x the population, nominal GDP is at least 11x Mexico’s number of $1.4T, meaning an $18T estimate for China might be high, but $10T is perhaps low.