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</span><a href="https://www.nextbigfuture.com/category/military">Military</a><span class="separator"> » </span><span class="last">Is USA and Chinese Economy More Government Controlled?</span></p></nav> <article id="post-197277" class="post-197277 post type-post status-publish format-standard has-post-thumbnail hentry category-military category-technology category-world tag-china tag-economy tag-government tag-united-states" itemtype="https://schema.org/CreativeWork" itemscope> <div class="inside-article"> <div class="featured-image page-header-image-single "> <img width="1120" height="760" src="data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABGAAAAL4AQAAAAAckLwQAAAAAnRSTlMAAHaTzTgAAAB/SURBVHja7cExAQAAAMKg9U9tCj+gAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAICXAaKnAAHGXawzAAAAAElFTkSuQmCC" class="attachment-full size-full lazyload" alt="" itemprop="image" decoding="async" fetchpriority="high" data-src="https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM.jpg" data-srcset="https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM.jpg 1120w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM-300x204.jpg 300w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM-1024x695.jpg 1024w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM-768x521.jpg 768w" data-sizes="auto" data-eio-rwidth="1120" data-eio-rheight="760" /><noscript><img width="1120" height="760" src="https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM.jpg" class="attachment-full size-full" alt="" itemprop="image" decoding="async" fetchpriority="high" srcset="https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM.jpg 1120w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM-300x204.jpg 300w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM-1024x695.jpg 1024w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-11.24.51-AM-768x521.jpg 768w" sizes="(max-width: 1120px) 100vw, 1120px" data-eio="l" /></noscript> </div> <header class="entry-header"> <h1 class="entry-title" itemprop="headline">Is USA and Chinese Economy More Government Controlled?</h1> <div class="entry-meta"> <span class="posted-on"><time class="entry-date published" datetime="2024-08-25T11:26:10-07:00" itemprop="datePublished">August 25, 2024</time></span> <span class="byline">by <span class="author vcard" itemprop="author" itemtype="https://schema.org/Person" itemscope><a class="url fn n" href="https://www.nextbigfuture.com/author/brian-wang" title="View all posts by Brian Wang" rel="author" itemprop="url"><span class="author-name" itemprop="name">Brian Wang</span></a></span></span> </div> </header> <div class="entry-content" itemprop="text"> <p>The US Federal government is projected to spend about $6.5 trillion (23% of US GDP in 2024). The US government’s Bureau of Economic Analysis as of Q3 2023 estimates $10.0 Trillion in annual total government expenditure and $27.6 trillion annual total GDP which is 36.2%.</p> <p>The OECD for 2021 shows general US government spending at 44.9% of GDP, or $31,538 per capita. BEA’s percentage is smaller because it just includes government spending. OECD’s total is larger because it also includes fees, e.g. tuition payments at public colleges.</p><div class="nextb-last-paragraph" style="margin-left: auto; margin-right: auto; text-align: center; " id="nextb-1380498403"> <div data-aaad='true' data-aa-adunit='/339474670/Nextbigfuture_A/InContent_3'></div> <div data-onpage='true' data-adpath='/339474670,3911572/Nextbigfuture_B/InContent_3'></div></div> <p><img decoding="async" src="data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABAAAAAFCAQAAAABHzpLuAAAAAnRSTlMAAHaTzTgAAAA+SURBVHja7cEBAQAAAIIg/69uSEABAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAvBuiQgABfB1dQQAAAABJRU5ErkJggg==" alt="" width="1024" height="322" class="alignnone size-large wp-image-197278 lazyload" data-src="https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-1024x322.jpg" data-srcset="https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-1024x322.jpg 1024w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-300x94.jpg 300w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-768x242.jpg 768w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-1536x483.jpg 1536w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-2048x644.jpg 2048w" data-sizes="auto" data-eio-rwidth="1024" data-eio-rheight="322" /><noscript><img decoding="async" src="https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-1024x322.jpg" alt="" width="1024" height="322" class="alignnone size-large wp-image-197278" srcset="https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-1024x322.jpg 1024w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-300x94.jpg 300w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-768x242.jpg 768w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-1536x483.jpg 1536w, https://nextbigfuture.s3.amazonaws.com/uploads/2024/08/Screenshot-2024-08-25-at-10.55.36-AM-2048x644.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" data-eio="l" /></noscript></p> <p>The US Federal reserve also has trillions in corporate bond and other purchases. </p> <p>China has lower direct government spending but this increases when the State owned enterprises are included. China’s state owned enterprises are about 20% of the economy. The US government supports 45% of the healthcare industry revenues. There is also large government support and involvement with military companies and several other industries.</p> <p><iframe loading="lazy" style="width: 100%; height: 600px; border: 0px none;" allow="web-share; clipboard-write" data-src="https://ourworldindata.org/grapher/historical-gov-spending-gdp?tab=chart&time=1959..latest&country=JPN~USA~DEU~GBR~CHN~FRA~SWE" class="lazyload"></iframe></p> <p><iframe title="The Federal Reserve鈥檚 portfolio of Treasury bills, notes, and bonds is shrinking" aria-label="Interactive line chart" id="datawrapper-chart-Dbz7U" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="540" data-external="1" data-src="https://datawrapper.dwcdn.net/Dbz7U/3/" class="lazyload"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}();</script></p> <p><iframe title="Two-thirds of public debt is held by domestic holders" aria-label="Bar Chart" id="datawrapper-chart-YSf8w" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="496" data-external="1" data-src="https://datawrapper.dwcdn.net/YSf8w/7/" class="lazyload"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}();</script></p> <div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"><img decoding="async" src="data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAGQAAABkAQAAAABYmaj5AAAAAnRSTlMAAHaTzTgAAAAUSURBVDjLY2AYBaNgFIyCUUBPAAAFeAABKXG5/AAAAABJRU5ErkJggg==" width="100" height="100" alt="" itemprop="image" data-src="https://nextbigfuture.s3.amazonaws.com/uploads/2020/08/brianheadshot.jpg" class="lazyload" data-eio-rwidth="100" data-eio-rheight="100"><noscript><img decoding="async" src="https://nextbigfuture.s3.amazonaws.com/uploads/2020/08/brianheadshot.jpg" width="100" height="100" alt="" itemprop="image" data-eio="l"></noscript></div><div class="saboxplugin-authorname"><a href="https://www.nextbigfuture.com/author/brian-wang" class="vcard author" rel="author"><span class="fn">Brian Wang</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p>Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.</p> <p>Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.</p> <p>A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts.聽 He is open to public speaking and advising engagements.</p> </div></div><div class="clearfix"></div><div class="saboxplugin-socials "><a title="Linkedin" target="_self" href="https://www.linkedin.com/in/brian-wang-93645/" rel="nofollow noopener" class="saboxplugin-icon-grey"><svg aria-hidden="true" class="sab-linkedin" role="img" xmlns="http://www.w3.org/2000/svg" viewBox="0 0 448 512"><path fill="currentColor" d="M100.3 480H7.4V180.9h92.9V480zM53.8 140.1C24.1 140.1 0 115.5 0 85.8 0 56.1 24.1 32 53.8 32c29.7 0 53.8 24.1 53.8 53.8 0 29.7-24.1 54.3-53.8 54.3zM448 480h-92.7V334.4c0-34.7-.7-79.2-48.3-79.2-48.3 0-55.7 37.7-55.7 76.7V480h-92.8V180.9h89.1v40.8h1.3c12.4-23.5 42.7-48.3 87.9-48.3 94 0 111.3 61.9 111.3 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