A Measure of the Economic Power of Leading States

Abstract

This paper studies the size of global GDP in the Bretton Woods system and to study the size of GDP and measure of a nation's economic power amid a geopolitical shift. A logical statistical comparative study was used to conduct a comparison of the concepts of the Western Academy of Economics with the concepts of sovereign economics, and a critical method was applied using the International Agency for Economic Statistics Database 2018-2022

The study found that GDP cannot really determine the size and power of a nation's economy because it is not based on actual production (industry and agriculture) and overestimating the value of the service sector. Countries that implement GDP must only be in free market economies, but when assessing their size based on their manufacturing sectors and the main chain of products in the global economy, It was discovered that the size of the Russian economy ranks 4th in the world and has a GDP of about $9-10 trillion, after China, the US, and India. With global geopolitical shifts, resource access and resource acquisition issues to support production are critical to price and scale economic reductions or expansions If the supply chain cannot manage the reproduction process by itself (upstream midstream and downstream) will affect the economic development and the livelihood of the people by themselves .Therefore, measuring the size and power of a nation's economy is the ability of states to ensure access to consumption for their citizens amid geopolitical shifts by ensuring their own free and cost-effective processing and value-added raw materials. The power to control the shipping routes despite the threat of the enemy to support to support the expansion of continuous reproduction even if threatened by the enemy.