USA has higher GDP than China... If we measure in nominal US dollars and pretend that every homeowner in the US pays themselves rent.
I wonder how much China's GDP would increase if you counted all the homeowners (which is like 80% of the population) as paying fictional rent to themselves.
While China doesn't calculate their gdp statistics the same way as the US, I believe they do also include imputed rent in the calculation https://www.thefreelibrary.com/Reestimating+China%27s+underestimated+consumption.-a0407668620
USA has higher GDP than China... If we measure in nominal US dollars and pretend that every homeowner in the US pays themselves rent.
I wonder how much China's GDP would increase if you counted all the homeowners (which is like 80% of the population) as paying fictional rent to themselves.
While China doesn't calculate their gdp statistics the same way as the US, I believe they do also include imputed rent in the calculation https://www.thefreelibrary.com/Reestimating+China%27s+underestimated+consumption.-a0407668620