Billionaire entrepreneur and Tesla Inc. (NASDAQ:TSLA) CEO, Elon Musk’s one-word response to a post on X is shedding light on the sheer size and scale of China’s economy, while also busting assumptions regarding the East Asian giant’s reliance on the United States.
China’s Massive Domestic Market
On Sunday, Musk responded to a post by energy executive Jesse Peltan on X, regarding the size of China’s domestic market, with a one-word response, “Yup.”
Peltan said, “Exports are only 20% of China’s GDP,” which currently stands at $19.4 trillion, and in this, exports to the U.S. account for just “15% of that,” or 3% of the nation’s total GDP, highlighting that the nation is far less dependent on the United States than it is often assumed.
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The post concluded by saying that the “Chinese domestic market is way bigger than people realize,” which was endorsed by Musk, prompting active discussions on X.
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