The Richest Country in the World by GDP According to a study by the IMF on the wealthiest countries, China's GDP for 2022 was $19.24 trillion.
New York again topped the list of the world's wealthiest cities, boasting some 340,000 millionaires last year, according to investment migration firm Henley & Partners.
Driven by industrial production and manufacturing exports, China's GDP is actually now the largest in terms of purchasing power parity (PPP) equivalence. Despite this growth, China's economy remains strictly controlled by its government where there are accusations of corruption, unfair dealings, and falsified data.
Australia has a GDP per capita of $48,700 as of 2020, while in China, the GDP per capita is $16,400 as of 2020.
Australia is a highly developed country with a mixed economy. As of 2023, Australia was the 13th-largest national economy by nominal GDP (gross domestic product), the 19th-largest by PPP-adjusted GDP, and was the 20th-largest goods exporter and 24th-largest goods importer.
It is a common story across Australia's top-tier neighbourhoods. From Toorak and Canterbury in Melbourne to Darling Point and Point Piper in Sydney, wealthy Chinese rank among the country's most prolific buyers of high-end real estate.
Here are the 10 richest countries in Asia: China - $11.22 Tn. Japan - $4.94 Tn. India - $2.26 Tn.
Singapore is the richest Asian country, with a per capita GDP of $91,000 (2023). The country boasts a highly developed market economy, historically driven by extensive entrepôt trade. Between 1965 and 1995, Singapore achieved remarkable average annual growth rates of around 6 percent.
China's $23 trillion local debt mess is about to get worse.
China's trade and investment reforms and incentives led to a surge in FDI beginning in the early 1990s. Such flows have been a major source of China's productivity gains and rapid economic and trade growth.
Rajah last year projected that while China would become the world's biggest economy by 2030, “its size advantage over America would be slim and it would remain far less prosperous and productive per person than the United States and other rich countries, even by mid-century.” The Japan Center for Economic Research, ...
According to China's National Bureau of Statistics, national gross domestic product per capita reached 85,698 yuan in 2022, or about US$12,741 based on the yuan's average exchange rate last year. That puts the country just slightly below the World Bank's high-income threshold of US$13,205, as of July 2022.
Shenzhen, a city in southeastern China, is one of the billionaire capitals of the world. The city is home to some of China's wealthiest people, many of whom founded massive tech companies. But there's also a dark side: Most residents cannot afford to buy a house in Shenzhen.
China is now an upper-middle-income country. Although China has eradicated extreme poverty, a significant number of people remain vulnerable, with incomes below a threshold more typically used to define poverty in upper-middle income countries.
In Asia, the poorest countries are Yemen, Tajikistan, and Myanmar, where poverty is also prevalent due to political conflicts and economic instability.
Japan has a HDI rank of 17th determined by its $US 36,332 GDP per capita whereas Australia's HDI rank is 2nd and has a GDP per capita of $US 61,219. These rankings and GDPs are determined by Japans 0.933 HDI, 83.6 age life expectancy and 11.5 mean years of education.
United States of America The United States is the world's most powerful country, with a dominant military, economic strength, and cultural influence. It has the world's largest military budget, with over 700 military bases around the world, and it is the world's largest economy, with a GDP of over $21.4 trillion.
Currently, 14.1 per cent of Australia's agricultural land is foreign owned, and China is the largest foreign owner (2.3 per cent). China is also the third-largest stakeholder of Australian water behind Canada and the US, owning 604 gigalitres or 1.5 per cent of the total Australian water entitlement.
Australia is home to more than 1.2 million Chinese-Australians, some 5% of the Australian population, many of whom report being uniquely affected by the country's fraught relationship with China, the foreign interference debate and the Covid-19 pandemic.