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There are three critical metrics used in measuring the size of China's economy.
1. Total energy use. BP releases a report every June. In 2014, China was the world's largest energy consumer and used 29% more total energy than the United States, which was in second place.
2. Technology level. Technology is a force multiplier. A country that produces a high-tech product creates more value. The metric from Nature science publications is a good indicator. China is ranked second in the world in Nature-published articles.
3. Manufacturing efficiency. The more industrial robots that are used by a country, the more productive the economy. China adds the most industrial robots per year (at 75,000 for 2015 and rising to a projected 150,000 for 2018). Also, China will have the world's largest total installed base of industrial robots by the end of this year (e.g. 338,000 for China vs. 330,000 for Japan).
[URL='http://www.ifr.org/industrial-robots/statistics/']Statistics - IFR International Federation of Robotics[/url]
1. Total energy use. BP releases a report every June. In 2014, China was the world's largest energy consumer and used 29% more total energy than the United States, which was in second place.
2. Technology level. Technology is a force multiplier. A country that produces a high-tech product creates more value. The metric from Nature science publications is a good indicator. China is ranked second in the world in Nature-published articles.
3. Manufacturing efficiency. The more industrial robots that are used by a country, the more productive the economy. China adds the most industrial robots per year (at 75,000 for 2015 and rising to a projected 150,000 for 2018). Also, China will have the world's largest total installed base of industrial robots by the end of this year (e.g. 338,000 for China vs. 330,000 for Japan).
[URL='http://www.ifr.org/industrial-robots/statistics/']Statistics - IFR International Federation of Robotics[/url]
