The American state of California became the fourth economic power in the world

The economy of the United States is about $300 trillion (California alone is $41 trillion), China is about $195 trillion, Germany is $49 trillion, Japan is $40 trillion, India is $40 trillion, and Britain is $37 trillion.

Baishak 14, 2082

Kantipur Reporter

The American state of California became the fourth economic power in the world

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The US state of California has become the fourth largest economy in the world, surpassing various superpower countries. In 2024, California, which has achieved the fastest economic growth of the world's strongest countries, has recently overtaken Japan, which ranked fourth.

Citing the International Monetary Fund (IMF) and the US Bureau of Economic Analysis (BEA), California Governor Gavin Newsom announced that California's economy is worth about 41 trillion US dollars. Along with this, if California were a separate country, it would be the fourth largest economic power in the world. Even before this, the state was once the fifth and sixth economic power. 

The economy of the United States, which remains the world's largest economy, has reached about 300 trillion dollars and the economic growth rate is 2.7 percent, according to the IMF. According to the IMF report, the second economic power China's economy is worth about 195 trillion US dollars, Germany's is 49 billion US dollars, Japan's is 40 billion US dollars, India is 40 billion US dollars and Britain is 37 billion US dollars. Among these, India's economic growth rate is the highest at 6.5 percent, China's 4.6 percent, Britain's 1.6 percent, Japan's 1.1 percent and Germany's 0.8 percent. 

Governor Newsom also claims that California, which has a population of about 40 million, alone contributes 14 percent to the United States' gross domestic product and contributes more than 83 billion US dollars to the government than it receives from the federal government. Economic reports show that the economy of New York, which ranks second in America, is 23 trillion, Texas is 22 trillion, Massachusetts is 18 trillion and Florida is 17 trillion.

The report points out that the poorest states in America are West Virginia with 85 billion, Mississippi with 130 billion, Louisiana with 260 billion and Arkansas with 145 billion. Recent U.S. government statistics show a widening gap between America's richest and poorest states, with states like California becoming more powerful. The California governor claims that the major information technology companies located there, the world-famous art industry, tourism and agriculture sector, including Hollywood, have played an important role in California's recent economic stability. Especially investment in human capital formation, priority in sustainable development and promotion of innovation are considered as the main basis of economic growth of this state. 

"Not only competing with the world, but we are also building our own rhythm," Governor Newsom said in a statement on his website, "Our economy is booming." Because we invest in people, prioritize sustainable development and believe in the power of innovation. While celebrating this economic success, we realize that the irresponsible additional tariffs announced by the current Trump administration may challenge California's progress.' 

The information technology sector alone will contribute nearly $10 trillion to California's gross product (GRP) by 2024, and it is a quarter of the state's economy, according to a US bureau report. This sector alone provides nearly 4.2 million jobs in the state of California, and companies located there create millions of jobs worldwide. California's Silicon Valley and Bay Area alone are home to 57 of the world's top 500 technology companies. Thousands of technology companies including Apple, Google, Meta, Nvidia, Qualcomm are operating from there.

In recent days, signature collection was started in California with the debate of separating from the United States and forming a separate country. California, which is at odds with the federal government on economic and administrative issues, has always been known to be a dynamic destination for new businesses and investors. California's introduction is not limited to technology but also extends to manufacturing and industrial agriculture. More than two million people are employed in it. 

Governor Numus of this state, which is traditionally dominated by the Democrat Party, challenged some of President Donald Trump's emergency powers last week in order to protect the California economy. He claims that the chaos brought by Trump's tariff policy has seriously affected his state's economy and financial market. Newsom demands that the tariff policy be repealed in a lawsuit filed in federal court. 

 (with agency help)

Kantipur

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