A new study on the economic power of the world’s nations has named China as the “most powerful nation” on its “world market power” index.
The report was issued by Banco Bilbao Vizcaya Argentaria (BBVA) as part of its Emerging and Growth-Leading Economies (EAGLEs) research project tracking the world’s leading nations.
BBVA feels that China has the most influence on the world’s economies.
“China shows the highest value not only among emerging economies but also when considering all the sample, inverting with the US the rank order given by the exports’ share in nominal terms,” the report reads.
In fact, BBVA ranks China quite a bit higher on its world market power index than any other nation, including the USA.
“China holds the largest share among emerging markets in the sample for 9 out of 18 industries, including all manufacturing groups except food (surpassed by Brazil). The largest industry share corresponds to textiles and leather (above 30%).”
The report also notes that Saudi Arabia and Russia rank high due to their exports of energy. This might cause one to hope that the US might rise in the near future with its growing natural gas and oil booms.
The report does not take into account the possible instability that China may face in the near future both economically and politically, not to mention a certain lack of trust in China’s regulatory milieu held by companies outside its borders.
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