Fact 6.2.1

China was the largest economy for centuries because everyone had the same type of economy-subsistence-and so the country with the most people had the largest real GDP. Then the Industrial Revolution sent the West on a more prosperous path. Now the world is returning to a common economy based on technology and information, so once again the country with the most population has the highest real GDP.

Consider Fact 6.2.1. Why was China the world's largest economy before the Industrial Revoluation?

Question

Fact 6.2.1 
 
 China was the largest economy for centuries because everyone had the same type of economy-subsistence-and so the country with the most people had the largest real GDP. Then the Industrial Revolution sent the West on a more prosperous path. Now the world is returning to a common economy based on technology and information, so once again the country with the most population has the highest real GDP. 
 
 Consider Fact 6.2.1. Why was China the world's largest economy before the Industrial Revoluation?

Answer

China had better technology.

Answer

China had the largest land mass.

Answer

China had the most skilled workers in the world.

Answer

China was the large exporter of goods and services.

Answer

The people in all countries had approximately the same subsistence level of income.

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Fact 6.2.1 China was the largest economy for centuries because everyone ha...

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