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China vs. United States: A Tale of Two Economies

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The United States has had the world’s largest economy for about 140 years, and it roughly accounts for 22% of global GDP. However, in recent times China has overtaken the US by at least one measure of total economic strength, which is GDP based on purchasing power parity (PPP).
Either way you slice it, the economies are the two strongest globally in absolute terms.
That’s where the similarities end. While comparable in total size, the makeup of each economy is totally different. United States is a sophisticated and highly diversified economy that is based on services, finance, and consumption from the middle class. China has similar aspirations in the future, but right now it is resource-intensive growth engine making the transition from a manufacturing hub to a consumer-driven economy.
Look at the infographic, what differences do you see?
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  • Home
  • Grade 7
    • Unit 1: How We Organize History
    • Unit 2: Early Human Communities
    • Unit 3: Ancient Meso-America
    • Unit 4: Ancient Japan
    • Unit 5: Ancient Greece
  • Grade 8
  • Grade 9
    • Unit 1: The French Revoltuion
  • Grade 10
    • Prologue >
      • Bias
      • Evaluating Sources
    • Unit 1: World War II >
      • Aftermath of WWI >
        • Causes of World War II
      • Causes of World War II >
        • Quickwrite #1: Power...
      • WWII pre-D Day
      • European Theater >
        • Topography
      • Pacific Theater >
        • Quickwrite #2: Dropping the bomb...
      • Geography: WWII
    • Unit 2: Cold War >
      • Post WWII >
        • quickwrite #3: When did it get so cold?
        • Cold War Map activity
        • Political Cartoons: Truman Doctrine & Marshall Plan >
          • Cartoon Assignment
        • CNN Cold War Documentary >
          • Comrades video
          • Iron Curtain video
          • Marshall Plan Video
          • Berlin Video
          • Korea Video
          • Reds Video
          • After Stalin Video
          • Sputnik Video
          • The Wall Video
          • Cuba Video
          • Vietnam War Video
          • MAD Video
          • Make Love Not War Video
          • Red Spring Video
          • China Video
          • Detente Video
          • Good Guys, Bad Guys Video
          • Backyard Video
          • Freeze Video
          • Soldiers of God Video
          • Spies Video
          • Star Wars Video
          • The Wall Comes Down Video
          • Conclusions Video
      • Asia >
        • Korean War >
          • Korean War Video
        • Vietnam War >
          • Vietnam War Timeline
          • Vietnam War Video
          • Quickwrite #4: Images of the Vietnam War
        • Laos & Cambodia >
          • Refugee crisis
      • Latin America >
        • Country Brief
      • Africa >
        • Country Brief
      • Collapse of the Soviet Union >
        • Fall of the Soviet Union
      • Cold war summative assessment
    • 1st semester final exam
    • 1st semester reflection
    • Unit 3: Global Interdependence >
      • World Religions
      • Globalization
    • writing center >
      • Research Paper
  • Grade 11
    • DP Econ y1 >
      • External Assessments >
        • Assessment Strategies
      • Internal Assessment
      • Unit 1.1 - Microeconomics: Competitive Markets >
        • In the News
        • Committee Memorandum
        • Guns vs. Butter
        • Short Answer Questions
        • Worksheets
        • Higher Level
      • Unit 1.2 - Microeconomics: Elasticity >
        • In the News
        • Elasticity Questions
        • worksheets
      • Unit 1.3 - Microeconomics: Government Intervention >
        • In the News
        • worksheets
      • Unit 1.4 - Microeconomics: Market Failure >
        • In the News
        • worksheets
      • Standard Level 1.5*
      • start Internal Assessment
      • Unit 1.5 - Microeconomics: Theory of the Firm & Market Structures (HL only) >
        • In the News
        • Backwards Test
        • Perfect Competition Questions
        • Worksheets
      • The Airline Industry Sucks
      • Unit 1 review
      • 1st semester reflection
      • Unit 2.1 - Macroeconomics: The Level of Overall Economic Activity >
        • In the News
        • Tale of Two Countries
        • Quickwrite: GDP
        • worksheets
        • Food for Thought
      • Unit 2.2 - Macroeconomics: Aggregate Demand & Aggregate Supply >
        • In the News
        • worksheets
      • Unit 2.3: Macroeconomic Objectives >
        • In the News
        • Inflation & unemployment
        • worksheets
      • Unit 2.4 - Macroeconomics: Fiscal Policy >
        • In the News
        • Quickwrite: Money
        • worksheets
      • Unit 2.5: Monetary Policy >
        • In the News
        • worksheets
      • Unit 2.6: Supply-Side Economics >
        • In the News
        • worksheets
    • DP Geo Y1 >
      • Geography Monkey
      • Intro Ibdp Geo
      • Course Structure
    • DP History y1
  • Grade 12
    • DP Econ y2 >
      • External Assessments >
        • In the News
        • Assessment Strategies
      • Unit 3.1: International Trade >
        • Worksheets
        • HL Comparative vs. Absolute Advantage Problem
      • Unit 3.2: Exchange Rates >
        • In the News
        • Exchange Rate Questions
        • worksheets
      • Unit 3.3: The Balance of Payments >
        • In the News
        • worksheets
      • Unit 3.4: Economic Integration >
        • united we fall documentary
        • In the News
        • worksheets
      • Unit 3.5: Terms of Trade (HL only) >
        • In the News
        • IB Examiner
        • worksheets
      • Unit 4.1: Economic Development >
        • In the News
        • worksheets
      • Unit 4.2: Measuring Development
      • Unit 4.3: The Role of Domestic Factors >
        • In the News
        • Questions
        • worksheets
      • Unit 4.4: The Role of International Trade >
        • In the News
      • Unit 4.5: The Role of Foreign Direct Investment >
        • In the News
        • worksheets
      • Unit 4.6: The Roles of Foreign Aid & Multilateral Development Assistance >
        • In the News
      • Unit 4.7: The Role of International Debt >
        • In the News
      • Unit 4.8: The Balance Between Markets & Intervention >
        • In the News
        • worksheets
      • Unit 4 Assessment Survey
      • Internal Assessment
      • 1st semester reflection
      • Review >
        • review worksheets
        • paper 3 Practice
    • DP Geo Y2 >
      • Sheard
      • Reviewing Year 1
    • DP History y2 >
      • Resources