“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “
August 4, 2017 By Robert Gehl
A single graphic gives great perspective on just how massive the United States economy is relative to other nations.
Released by howmuch.net, and called a Voronoi Diagram, it represents each country’s share of the world economy as a slice in a global circle. America’s share takes up the largest amount by far at 23.32 percent, followed far behind by China at 13.9 percent.
Japan is third at a distant 6.18 percent, followed by Germany, France and the U.K.
The United States only has about 5 percent of the world population, yet it dominates the global economy. China, with almost three times the population, still has a long way to go.
The diagram from the “cost-information website” also divides the country’s share into sectors, service, industry and agriculture – and this is where it gets less than stellar.
The vast majority of America’s economy is service-based, with the industrial and agricultural sector a much smaller share.
Compare that with China’s share of the “pie,” where services and industry are roughly the same. From the site:
The US economy is mostly composed of companies engaged in providing services (79.7% compared to the global average of 63.6%), while agriculture and industry make up smaller-than-average of portions of the economy (1.12% and 19.1% compared to averages of 5.9% and 30.5%).
The next largest economy, China, is roughly balanced between industry and services (though the service sector is growing at a faster rate), with a 9.1% contribution from agriculture. In this sense, China is a bit of an anomaly: other rich countries have service sectors that greatly outweigh both industry and agriculture. Over the past several decades, China has leveraged its competitive advantage and designed industrial policies to incent manufacturing in the country. But as China grows, it will continue to transition to a service-based economy. Similarly, India will see a decrease in agriculture’s contribution to its GDP and an increase in the size of the service sector.
Over time, the service sectors of developed nations have tended to grow relative to the other sectors. But are there limits to this trend? What is the natural size of each sector?
About Robert Gehl
Robert Gehl is a college professor in Phoenix, Arizona. He has over 15 years journalism experience, including two Associated Press awards. He lives in Glendale with his wife and two young children.
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
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- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
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Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
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Walter Unger CCIM
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