The Briefing Room
General Category => National/Breaking News => Topic started by: truth_seeker on February 15, 2019, 02:05:12 pm
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California's economy is now the 5th-biggest in the world, and has overtaken the United Kingdom
Here is how the 15 largest world economies look if you also include US states (in bold) as separate entities:
1. United States $19.391 trillion
2. China $12.015 trillion
3. Japan $4.872 trillion
4. Germany $3.685 trillion
5. California $2.747 trillion
6. United Kingdom $2.625 trillion
7. India $2.611 trillion
8. France $2.584 trillion
9. Brazil $2.055 trillion
10. Italy $1.938 trillion
11. Texas $1.696 trillion
12. Canada $1.652 trillion
13. New York $1.547 trillion
14. South Korea $1.538 trillion
15. Russia $1.527 trillion
According to the Associated Press, California's boom has been especially pronounced because of its thriving tech, entertainment and agricultural industries.
The difference is even more stark in light of the respective economies' populations: Britain has around 66 million inhabitants, compared to California's 40 million.
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https://www.businessinsider.com/california-economy-ranks-5th-in-the-world-beating-the-uk-2018-5/ (https://www.businessinsider.com/california-economy-ranks-5th-in-the-world-beating-the-uk-2018-5/)
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If/when California’s debt problems worsen, they are going to need to be bailed out by the country at large. I’m not saying I like it, but with the federal government allow a state that’s the fifth largest world economy crash?
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If/when California’s debt problems worsen, they are going to need to be bailed out by the country at large. I’m not saying I like it, but with the federal government allow a state that’s the fifth largest world economy crash?
5th largest economy in the world used almost exclusively to fund pensions for its 2 or 3 million retired state employees. Meanwhile thousands of people are living in tents along freeways and crapping on street corners.