It’s a terrific idea for the US to embrace the term “developing nation.” Far better to be developing—growing, expanding, and improving—than to be developed: which means to be finished, completed, and done.https://twitter.com/business/status/1219949510375497729 …
We have good software that we export, oil and other natural resources that are in short supply in China, and an inflated world reserve currency. These things explain the difference in GDP but not the sense of development you get from going to China from the US.