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Graphic showing the size of U.S. CHIPS grants in 2024

Chart showing the top 6 economies' share of global GDP

Top 6 Economies by Share of Global GDP

(1980-2024)

 

Over time, the distribution of global GDP among the world’s largest economies has shifted dynamically, reflecting changes in economic policies, technological advancements, and demographic trends.

To see how this has played out in recent decades, we visualized the world’s top six economies by their share of global GDP from 1980 to 2024.

All figures were sourced from the IMF’s World Economic Outlook (April 2024 edition) and are based on using current prices.

Data and Highlights

The data we used to create this graphic can be found in the table below.

 

U.S. Resilience

Starting with the U.S., we can see that America’s share of global GDP has fluctuated quite significantly over time.

After bottoming out at 21.1% in 2011, the U.S. economy grew its relative size by several percentage points, and is estimated by the IMF to make up 26.3% of global GDP in 2024.

This chart also suggests that the U.S. has managed a stronger recovery from the COVID-19 pandemic, evidenced by its rising share of global GDP since 2020. China, the EU, and Japan have seen relative declines over the same period.

China’s Incredible Rise

This chart also provides perspective on China’s period of rapid economic growth, which began in the early 2000s.

It’s interesting to note that China joined the World Trade Organization (WTO) in 2001, which facilitated China’s integration into the global economy.

Japan Falls From the #2 Spot

Japan was once the second largest country economy after the U.S., accounting for 17.8% of the global economy in 1994 and 1995. Since then, economic stagnation and an aging population have resulted in a relative decline of the country’s economic might.

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23 April

click; news briefing…  

MASTERMINDS 

international

women-in-business

and their allies

IN THIS TRANSFORMATIVE ERA WE ARE WORKING IN… learn from

PaulFalconeHR

today discussing

DELEGATING

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COACHING

MENTORING

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AUTHOR / LEADERSHIP COACH, STEVEN HOWARD

WHY / HOW

CEO’S MUST CHANGE ATTITUDES

REPATRIATION

Who benefits most?

Company,

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Clear-thinking about Talent Mobility

by   Olivier Meier, Mercer

Mobility is not just about relocation management and needs to be discussed in the context of the talent management cycle – including selection and long-term career management.

Mobility supports a company’s efforts to tap into new talent pools and helps with workforce reskilling. 

Geographical mobility (expatriation) and lateral moves (cross-functional) should be better integrated to foster highly skilled “hybrid” talent.”

Transforming Talent Mobility Management;

WHAT MIGHT stakeholders do to better enable assignee success?

TALENT MASTERMINDS CONVENE TO DISCUSS WORKPLACE CRISIS SITUATIONS AND WHAT TO DO …

A pie chart showing the biggest semiconductor companies by the percentage share of the industry’s revenues in 2023.

Rank Company 2023 Revenue % of Industry Revenue
1 Intel $51B 9.4%
2 NVIDIA $49B 9.0%
3 Samsung
Electronics
$44B 8.1%
4 Qualcomm $31B 5.7%
5 Broadcom $28B 5.2%
6 SK Hynix $24B 4.4%
7 AMD $22B 4.1%
8 Apple $19B 3.4%
9 Infineon Tech $17B 3.2%
10 STMicroelectronics $17B 3.2%
11 Texas Instruments $17B 3.1%
12 Micron Technology $16B 2.9%
13 MediaTek $14B 2.6%
14 NXP $13B 2.4%
15 Analog Devices $12B 2.2%
16 Renesas Electronics
Corporation
$11B 1.9%
17 Sony Semiconductor
Solutions Corporation
$10B 1.9%
18 Microchip Technology $8B 1.5%
19 Onsemi $8B 1.4%
20 KIOXIA Corporation $7B 1.3%
N/A Others $126B 23.2%
 

Total $545B 100%

Note: Figures are rounded. Totals and percentages may not sum to 100.


Meanwhile, Nvidia is very close to overtaking Intel, after declaring $49 billion of topline revenue for 2023. This is more than double its 2022 revenue ($21 billion), increasing its share of industry revenues to 9%.

Nvidia’s meteoric rise has gotten a huge thumbs-up from investors. It became a trillion dollar stock last year, and broke the single-day gain record for market capitalization this year.

Other chipmakers haven’t been as successful. Out of the top 20 semiconductor companies by revenue, 12 did not match their 2022 revenues, including big names like Intel, Samsung, and AMD.

The Many Different Types of Chipmakers

All of these companies may belong to the same industry, but they don’t focus on the same niche.

According to Investopedia, there are four major types of chips, depending on their functionality: microprocessors, memory chips, standard chips, and complex systems on a chip.

Nvidia’s core business was once GPUs for computers (graphics processing units), but in recent years this has drastically shifted towards microprocessors for analytics and AI.

These specialized chips seem to be where the majority of growth is occurring within the sector. For example, companies that are largely in the memory segment—SamsungSK Hynix, and Micron Technology—saw peak revenues in the mid-2010s.

SHRM Foundation

Establish National Center of Excellence

to Accelerate Adoption of Skills-First Hiring

and

Advancement Initiatives

ALEXANDRIA, Va – SHRM and the SHRM Foundation proudly announced the establishment of a cutting-edge Skills-First Center of Excellence (SFCOE), in partnership with Walmart, Charles Koch Foundation, and a wide range of leading collaborators including the Workday Foundation.

Continuing to build on the SHRM Foundation’s Skills-First at Work initiatives, this marks another step forward towards modernizing the traditional hiring and advancement landscape. The SFCOE will make it possible for employers to unlock the full potential of candidates by prioritizing their skills, talents, aptitudes, and competencies over the sole use of proxies like degrees.

“To meet the world of work of tomorrow, we need to transform our hiring and advancement practices today,” said Wendi Safstrom, President, SHRM Foundation. ”We commit to being a key convener and catalyst for skills-first practices, focusing on creating centralized, enterprise-level solutions that drive scale and trust. We are dedicated to supporting HR-inclusive innovation and employer-inclusive collective action to make it possible for all workers and workplaces to thrive.”

SHRM and the SHRM Foundation anticipate the center to launch in early 2025. In the next decade, the SHRM Foundation aims to transform hiring and advancement practices for 100,000 employers and 500,000 HR professionals, managers, and executives.

The four main components of the SFCOE are:

  • An AI-based skills advisor: will help employers see where they stand in their skills journey and to provide them with specific tools, trainings, and actions to accelerate their progress.
  • A library of skills-first resources: will help employers select tools by compiling and tagging resources from different providers and offering a collection of relevant case studies.
  • A skills-tech clearinghouse and solutions lab: will help HR professionals assess the quality of different HR systems and establish a community for talent champions.
  • A skills-first credential: will formally certify HR professionals, hiring managers, and C-suite executives in skills-first practices.

Currently, companies are turning to skills-first strategies for solutions to their talent needs. However, according to SHRM Foundation research, while 90% of employers acknowledge the benefits of skills-first hiring, only 15% actively implement it, showing a significant implementation gap. This research has identified three core barriers hindering the widespread adoption of skills-first strategies: challenges related to the ROI, lack of trust and knowledge among HR professionals and executives, and the absence of standard operating practices in the field.

“Walmart has been investing in skills-based systems for over 10 years,” said Julie Gehrki, vice president, Walmart Foundation. “We believe in creating more hiring and advancement opportunities for all, and our work with SHRM has helped accelerate the broader adoption of skills-first practices. We’re excited to see the Center of Excellence serve as a resource for other employers, no matter where they are in their journey.”

“The momentum of skills-based hiring is encouraging, but there is a risk it does not go far enough,” said Ryan Stowers, executive director, Charles Koch Foundation. “Employers need tools that are designed to support culture change. That is why this Center of Excellence is an exciting example of how SHRM helps employers empower their workers to pursue meaningful careers. By rethinking talent strategies to look at the full set of capabilities that people bring, companies can experience tremendous mutual benefit. Workers who are aligned with the vision of the organization see purpose in their work, understand the value they create, and are motivated by the role they play. Employees who are more fulfilled in their work are also more likely to innovate, grow, and stay at an organization.”

“At Workday, we believe that skills are the new currency of work, and skills-based hiring is a key strategy for organizations to move their business forever forward,” said Carrie Varoquiers, chief philanthropy officer, Workday. “The Skills-First Center of Excellence aligns with the Workday Foundation’s commitment to help reduce barriers to employment and unlock substantial career opportunities for those that have the talent and skills to succeed, but not always the right access. We are excited to support SHRM on this initiative so we can build a more innovative and diverse workforce together.”

The SFCOE is a collaborative effort drawing on expertise from across the skilling space. Additional collaborators in the SFCOE are anticipated to include: Opportunity@Work, the U.S. Chamber of Commerce Foundation, the Business Roundtable, Jobs for the Future, Education Design Lab, SkillsFWD, the Competency-Based Education Network (C-BEN), Grads of Life, and SHRMLabs, among others.

About the SHRM Foundation

SHRM Foundation empowers Human Resources as a force for social good. As the nonprofit arm of SHRM, the world’s largest HR professional society, the Foundation believes that HR holds a unique position to lead change in the face of complex challenges within the world of work. SHRM Foundation believes that HR holds a unique position to lead change. The organization mobilizes and equips HR to ensure the prosperity and thriving of talent and workplaces. The Foundation works by widening pathways to work for more skills-first candidates and more kinds of talent; tackling societal challenges, with a current focus on workplace mental health and wellness; and strengthening the HR field with even more diversity, growth, and readiness to address these needs. SHRM Foundation works with SHRM, courageous partners, and bold investors to generate awareness, action, and impact to build a world of work that works for all. Discover more at SHRMFoundation.org.

 

About SHRM

SHRM is a member-driven catalyst for creating better workplaces where people and businesses thrive together. As the trusted authority on all things work, SHRM is the foremost expert, researcher, advocate, and thought leader on issues and innovations impacting today’s evolving workplaces. With nearly 340,000 members in 180 countries, SHRM touches the lives of more than 362 million workers and their families globally. Discover more at SHRM.org.

Global Trade Global Business

Memo from Ed Cohen, Editor – GlobalBuswinessNews.net.  Due to the current events impacting global trade I am bringing this excellent resource to your kind attention. For info contact the author (scroll to see contact info.

(Last)  March 23rd when the 20,000 TEU Ever Given ran aground and wedged itself across the Suez Canal, all traffic through the critical waterway came to a standstill. It was aground in the Canal for a mere six days but the cascading impact on the global supply chain is still being felt weeks later. 

It’s understandable. The Suez Canal averages over 90 vessel transits a day nominally linking the Mediterranean Sea to the Red Sea. But in reality, the Suez ties Asia to Europe. The 120-mile long waterway saves around 6,100 miles of transit using London, UK – Mumbai, India as two base points. The difference is roughly 26 days to 44 in sea time. 

More to the point, when it comes to moving goods to and from Asia to Europe, although it comes at a premium, the Suez Canal is really the only way to go. The alternative is going around the Cape of Good Hope, which is not only longer but would omit the port opportunities of the Mediterranean – in short, the long haul is bad business. At various times in the past, tankers have avoided using the 120 mile waterway to save cash on canal fees, but the rotations of boxships obviates this rationale. Containerships are tied to their loops and the Suez is critical to that end.

But the Suez isn’t the only maritime choke point, in fact there are eight primary maritime choke points and dozens of secondary ones (see map on next page). The primo eight (in AJOT’s estimation) are  the Panama Canal, the Strait of Gibraltar, Cape of Good Hope, Bosporus Strait, Suez Canal, Bab-el-Mandeb Strait, Strait of Hormuz and Straits of Malacca.

The two canals, Panama and Suez have both become essential to the flow of containerized freight. In the case of the Panama Canal, the expansion has made it crucial as the Trans-Pacific direct call connector to the U.S Gulf and East Coast ports. 

In combination with the Suez, this enables carriers to run interlinking global loops that link Asia to North America from both East and West. Which brings us to the point of vulnerabilities. If the Panama Canal had also been compromised at the same time as the Suez, what would the damage be to the global supply chain?

Of course, the majority of the choke points are “straits” which are less vulnerable to calamities like malfunctioning locks or vessel groundings but the risk factor is still significant in geo-political terms. For example, the Strait of Bab-el-Mandeb (Gate of Tears in Arabic), is located between the Arabian Peninsula and northeast Africa. The narrows are considered to be the world’s fourth busiest waterway and part of the sea route from the Indian Ocean to the Red Sea and the Suez Canal. Both sides of the waterway are volatile with the war in Yemen a global concern, unrest in Djibouti and ongoing strife in nearby Ethiopia. While a complete closure of the Strait may be unlikely, the risk level to vessel traffic in the region is still high. And an episode in the Strait – an act of piracy or armed attack on a commercial vessel – coupled with the Suez event would have been a calamity that could ignite into catastrophe. 

The Straits of Malacca are another of the East-West maritime choke points. While piracy has been the main issue in the Straits, the density of traffic poses a danger in terms of collisions and other nautical misadventure. It’s estimated that 100,000 ships per year pass through the waterway that connects the Indian Ocean (via Andaman Sea) to the South China Sea.

And the South China Sea is its own kind of choke point with various interests vying for influence. China, Vietnam and the Philippines along with virtually all the other littoral states have disputes in the South China Sea. And the U.S. has a strong interest in maintaining freedom of passage through the region. 

China’s buildup of island installations and militia like activities in the South China Sea are an ongoing concern to neighbors like the Philippines, Japan and the U.S.  And importantly, the South China Sea is a “waterway” for trade moving between China, Southeast Asia and Europe as well as intra-Asian trade, which continues to boom and contribute to growth of ports like Singapore. 

Dr. Mark Valencia, who has studied the region for decades offered the analysis should  hostilities break out: “Those west of the Dangerous Ground would be the most likely to be “choked”. The alternative route to the east of the Dangerous Ground along the coasts of the Philippine islands would probably still be usable. Vessels of non-combatants could use those or go around  – that is through the Indonesian archipelago or even south of Australia – although that would add considerable time and expense to the journey and thus to the cost of the goods.”

The trouble is that there are many more maritime choke points that could create a cut off of the flow of goods through the supply chain – perhaps not as thoroughly as the Ever Given – but with global impacts. And should more than one event occur simultaneously…the result could easily exceed the experience of the Ever Given event.

George Lauriat

George Lauriat, Editor in Chief Contact Author

AJOT

American Journal of Transportation
116 Court Street, Suite B1
Plymouth, MA 02360
(508) 927-4188

“Thank you, Edwin B Cohen, for our discussion! (GlobalTVtalkshow). 

It was fascinating to touch on so many different cultures and discuss how non-verbal communication gestures can lose meaning out of context when we switch languages.”

AMERICAN 

ENERGY  INDEPENDENCE

(non-partisan)

What is American energy independence & why does it matter?

How do Canada & Mexico fit in?

Net petroleum balance Natural gas liquids US crude oil & product exports US Energy Exports LNG – liquified natural gas, US exports and impact on US domestic prices.

Decarbonization & energy independence.

Renewable energy supply chain.

Federal debt & the consequences of dysfunctional American politics.

Do deficits matter?

The $105 Trillion World Economy in One Chart

CUSTOMER

FEEDBACK

GLOBALTVtalkshow

Let’s talk about the Power of Courage!
– Live 1:1 with the lovely Edwin B Cohen!   Ed and I talked about a number of things:
What is Imposter Syndrome and is it different to a general lack of confidence?
How does – Small Acts of Courage = Builds Confidence – support the achievement of a bigger goal?
What does courage mean and how does small steps build resilience?

Link here to our 30 min chat on Youtube:
https://lnkd.in/da-jvWDt

It was a stimulating conversation and I’m truly grateful and honoured for Ed’s invitation for me to go live with him in San Diego!

Looking forward to another session too… and I never thought I’d be able to say “I’m live with San Diego!”

Meeting people like Ed brings so much joy into my daily worklife and I hope that our discussion supports people to understand more about why courage is the powerhouse value for your personal confidence and leadership skin.

impostersyndrome,   courageousleadership,   selfconfidence,   mindsetmatters

“What a fascinating group of Healthcare experts!

We are discussing very important topics including AI, Mental Health, Neurological diseases and possible treatments and cures, Pharmaceutical breakthroughs along with a little world saving brainstorming!

Edwin B Cohen thank you for having us all on

Global TV Talk Show

To Life  

I always love talking with Dr. Howard Federoff and Mark Colo about Neurology breakthroughs and AI invention ideas!”

ai  artificialintelligence  machinelearning

healthcare medtech  womenintech

geek  savetheworld

Annette Dernick

Koln, Germany

https://www.linkedin.com/in/annettedernick

“Yes, dear Ed, I know this and appreciate it very much.  In your regular GlobalTVTalkshows I have already met awesome people, made great new contacts and have learned so much from our conversations. 
I feel honored to be part of this community and I have the feeling that we all want to contribute with all our knowledge and experience, that we want to support those who are looking for expertise in these transformational time. 
Thank You for being the connector and communicator to share our insights and wisdom with such a large community, online and offline.”

 

The World Bank


GDP per capita 

(current international $)

International Comparison Program, World Bank
World Development Indicators database, World Bank
Eurostat-OECD PPP Programme.


https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locations=EU

1:1 

Dr. Lynn Schmidt

…about

BARBIE

… here’s

my

take

1:1

GARY SAENGER

Retained Executive Search

https://youtu.be/nIZ-RsQ5Ds4

Infographic highlighting the largest trading partners of the U.S.

Ukraine Aid

map of u.s. cities by gdp

Mapping housing market affordability and some of the least affordable cities.

A map of housing prices around the world

Dr. David Weiss 

 C L E A R 

coaching method

clear leadership coaching

Charted: Six Red Flags Pointing to China's Economy Slowing Down

DAVOS  

5

takes

1:1

SANCTIONS  CONSULTING

helping companies avoid legal/tax troubles

China's trade partners by import and export destinations.

Visualizing All of China’s Trade Partners

China stands as a formidable player in the global trade arena, wielding its influence as the world’s largest goods exporter.

With a complex network of trade partnerships spanning more than 200 countries, regions, and territories, the world’s second-largest economy has significant economic relationships with both allies and adversaries.

By using 2022 trade data from China’s General Administration of Customs, this visualization from Truman Du breaks down the nation’s top trading partners through imports and exports by destination.


China’s Imports and Exports by Country in 2022

Over the course of 2022, China saw exports totaling $3.57 trillion and imports totaling $2.71 trillion, giving it a massive trade surplus of $857 billion.

Verified by ExactMetrics