The Scale of China’s Economic Power
This compelling visualization highlights the extraordinary economic power of China in contrast to the combined economies of 30 other Asian nations. It offers a striking perspective on the vast scale of China's economic dominance, which is often difficult to fully comprehend.
Available for free download on both iOS and Android, the visualization on the Voronoi app provides access to a wealth of data-driven charts sourced from reputable institutions like the United Nations and the International Monetary Fund (IMF). By juxtaposing China’s economy with those of East, Southeast, South, and Central Asia, collectively referred to as the “Rest of Asia,” it sheds light on key regional disparities.
Also read: Economic Powerhouses: Discover Southeast Asian Countries Ranked by GDP Per Capita
Exclusions: This analysis excludes Western Asia, Middle Eastern nations, and Russia—a transcontinental nation spanning both Europe and Asia. Additionally, data for North Korea was unavailable.
China vs. The Rest of Asia: Key Economic Metrics
In 2024, China's economy reached a staggering $18.27 trillion, surpassing the combined GDP of 30 other Asian nations, which totaled approximately $16.5 trillion. To better understand this disparity, the following table provides a detailed breakdown:
| Country | 2024 GDP (in trillions USD) | Population |
|---|---|---|
| 🇨🇳 China | $18.27 | 1,419,321,000 |
| 🇯🇵 Japan | $4.07 | 123,753,000 |
| 🇮🇳 India | $3.89 | 1,450,936,000 |
| 🇰🇷 South Korea | $1.87 | 51,718,000 |
| 🇮🇩 Indonesia | $1.40 | 283,488,000 |
| 🇹🇼 Taiwan | $0.775 | 23,214,000 |
| 🇸🇬 Singapore | $0.531 | 5,832,387 |
| 🇹🇭 Thailand | $0.529 | 71,668,000 |
| 🇻🇳 Vietnam | $0.468 | 100,988,000 |
| 🇧🇩 Bangladesh | $0.451 | 173,562,000 |
| 🇵🇭 Philippines | $0.440 | 115,844,000 |
Population and Productivity Disparities
China’s population of approximately 1.4 billion is overshadowed by the combined population of the 30 other Asian nations, which collectively surpass 2.9 billion. However, the disparity in per capita GDP is stark:
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China’s Per Capita GDP: $12,870
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Rest of Asia’s Per Capita GDP: $5,583
This productivity gap underscores China’s economic efficiency and industrial strength compared to its regional peers.
Also read: China or the US: Who Leads Economic Influence in ASEAN?
China's Global Impact and Economic Slowdown
A Catalyst for Global Growth
Since 2010, China’s economy has grown by roughly $1 trillion annually—an amount equivalent to the entire economy of Saudi Arabia. Between 2012 and 2021, China contributed nearly 39% of global economic growth, surpassing the combined contributions of the G7 nations. China’s dominance in manufacturing and industrial sectors remains unparalleled, shaping global supply chains and fueling economic development across Asia, Africa, and beyond.
The Ripple Effects of a Slowdown
China’s recent post-pandemic economic slowdown has sparked concern worldwide. A decline in China’s demand affects numerous export-dependent countries, particularly in Asia and Africa. The following dynamics highlight the far-reaching consequences:
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Export Impact: Reduced demand from China impacts industries in countries heavily reliant on exports to the Chinese market.
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International Trade Tensions: As Chinese businesses pivot towards international markets, tensions with the U.S. and EU have escalated. Allegations of unfair trade practices and the potential for increased tariffs could further disrupt global economic stability.
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Consumer Costs: Tariff increases would lead to higher consumer costs, illustrating the interconnectedness of global economies.
What the Future Holds
China’s economy remains a linchpin of global economic stability. However, its slowing growth emphasizes the need for diversification and resilience among other Asian economies. Countries like India, Indonesia, and Vietnam, with their expanding middle classes and burgeoning tech industries, are poised to play larger roles in the regional economy.
Source: Visual Capitalist
