10 Countries Do Not Have 90% of World GDP
This chart from a JP Morgan analyst has been making the rounds on the internet:
It does not, however, really mean what it says. The Y-axis is not really “Share of world GDP”; it is “Share of the sum of the GDPs of the countries listed on the right side”. Notably, if you add up the GDPs of China, India, Japan, Russia, Germany, Italy, Spain, the UK, France, and the USA (using the source data indicated at the bottom of the chart), you get something more like 64% of world GDP – not the 90+% indicated by the chart.
This is not really a blow to any argument I’ve seen people using this chart to make. It’s just a clarification.
(h/t: my friend who asked the pertinent question, “hmmm. australia, indonesia?”)