In the first half of 2023, the GDP data for China, the United States, and Japan have all been released. The United States continues to lead with a GDP of $13.34 trillion for the first half of the year. Due to revisions in the second quarter GDP growth rate, the overall GDP for the first half increased by more than $100 billion.

Secondly, China's GDP for the first half of the year was $8.55 trillion, with a higher GDP growth rate than the United States. However, the significant difference in inflation rates between China and the United States, combined with the impact of currency devaluation, has led to an expansion of the gap between the two countries.

Japan's GDP for the first half of the year reached $2.13 trillion. Due to the continuous depreciation of the yen, the overall GDP continues to shrink, and Japan has been overtaken by Germany, resulting in Japan's GDP falling to the fourth position globally for the first half of the year.

As the three major economies in the world, China, the United States, and Japan all have regions with large GDP volumes. Guangdong is China's largest economic province, with a GDP that has already surpassed $1.9 trillion, and it can smoothly enter the top 15 globally.

Advertisement

Similarly, the strongest economy in Japan is Tokyo, which covers nearly a quarter of Japan's population, with a GDP close to $1 trillion. As the world's largest economy, the United States' strongest economic region is California, with an extremely large economic volume. The GDP is expected to break through $4 trillion for the first time this year.

According to data released by the United States, California's GDP reached $3.7 trillion last year. This figure has surpassed老牌 capitalist powers like the United Kingdom and also exceeded populous countries like India. The GDP is sufficient to rank in the top five globally, which can be described as "rich enough to rival a nation."

In the first quarter of this year, California has already achieved a GDP output of $930 billion, and California's economic growth rate is higher than that of the United States. Therefore, it is highly likely that California's GDP will break through the $4 trillion mark for the first time this year. Foreign media have also begun to report that California has the potential to surpass Germany and enter the top four globally.

In fact, according to the current situation analysis, California's GDP will not only approach Germany but is also rapidly catching up with Japan. In the first half of the year, Japan's GDP has already been overtaken by Germany, and California's GDP for the first half of the year is expected to approach $2 trillion, quickly narrowing the gap with Japan.

This year, due to the Federal Reserve's interest rate hikes, the US dollar has been very strong, with the dollar always in an appreciation trend. Coupled with the fact that the inflation rate in the United States this year is not low, it is highly probable that the United States' GDP will be in the range of $26-27 trillion this year. As the most economically developed state in the United States, the probability of California's GDP breaking through $4 trillion this year is very high.

Moreover, the economic performance of Japan and Germany this year has been quite average. Japan, due to the continuous devaluation of the exchange rate, coupled with an already sluggish economic growth rate, will only continue to see its GDP shrink. Germany, after losing Russia's low-cost energy supply, has seen a significant increase in manufacturing costs, a decline in exports, and a drop in GDP growth rate.So, this implies that California's GDP has the potential to rank among the top four, or even the top three, in the world. It's important to note that California has a population of only 40 million. If the GDP reaches a new height of $40 trillion, then California's per capita GDP will break through the $100,000 mark for the first time. Such data is almost unmatched globally.

With California's comprehensive economic strength, it can be said to be the "world's first economic powerhouse province." So, what has enabled California's more than 40 million people to achieve such a high economic output?

Firstly, California's most dazzling feature is its high-tech industry. The famous "Silicon Valley" is located in California, USA. It is the presence of Silicon Valley that has successfully led the United States to lead the third industrial revolution, promoting the rapid development of global information technology and allowing the United States to fully enjoy the huge dividends brought by technological leadership.

As a result, the United States has given birth to many global technology star companies such as Microsoft, Google, Amazon, Apple, IBM, Intel, and Nvidia. To this day, these technology companies still hold a leading position globally.

Due to the presence of top technology companies, an unending stream of global talent is attracted to Silicon Valley every year. In addition, Silicon Valley also has world-class universities like Stanford, as well as a large number of scientific research institutions. The driving model of industry-university-research continues to promote technological innovation.

Secondly, California's manufacturing, agriculture, and service industries are all very developed. Los Angeles, the second-largest city in the United States, is located in California. Los Angeles is a famous manufacturing base in the United States and later gradually shifted to the service industry, such as finance and cultural industries, among which the Hollywood film industry is world-renowned.

Guangdong is China's first economic powerhouse province, with its GDP expected to break through $2 trillion this year. Although it is only about half of California's, Guangdong's economic growth rate is much faster, and there is a huge room for improvement in the future.

In fact, Guangdong's development is evident to all. It has already produced many industry giants, such as Huawei, BYD, DJI, Midea, and Gree. These companies have all become leaders in their respective industries, continuously strengthening their global voice within the industry.

Guangdong's economic scale has already ranked in the top ten in the world, but the real goal should be California, USA, not other countries. This is because we are pursuing the most economically developed United States globally. As the first economic powerhouse province, Guangdong should compare itself with California, catch up with California's high-tech industry, continuously improve its own strength, and narrow the gap between them.