The U.S. share of the global economy has tanked below 15% during Joe Biden’s presidency. By the end of his term, it is projected to hit a record low of 14.76%, according to the World Bank and the International Monetary Fund.
In 1990, the U.S. accounted for 20.16% of the global economy, measured by purchasing power parity (PPP). That share peaked at 21.01% in 1999, with an economic output of $9.6 trillion, compared to a global output of $45.85 trillion.
n Biden's second year, the U.S. share slipped below 15%, reaching 14.82% by the end of 2023.
Meanwhile, China’s share of the global economy has surged to 18.76%, while Japan's share has dropped by 4.33% over the past 33 years, RIA Novosti reported.
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