US vs China in numbers: Who leads in economy, military, AI, trade and technology?
As Trump and Xi prepare for their September 24 summit in Washington, key numbers reveal how the US and China compare across economic growth, trade, military spending, AI and rare earths.
US vs China in numbers
US President Donald Trump is hosting Chinese President Xi Jinping in Washington on September 24, with trade, technology, Taiwan and critical minerals among the key issues shaping ties. As the leaders meet, let’s compare the two leading global powers in numbers.
Economy: GDP and growth
The US remains the larger economy at market exchange rates, while China is growing faster. IMF projections put US 2026 growth at 2.4 per cent, while China is projected at 4.6 per cent. China’s rapid growth continues to narrow the economic gap with America.
Trade: China dominates goods exports
China has a substantial lead in merchandise exports. In 2024, Chinese goods exports reached $3.59 trillion, compared with $1.9 trillion for the US. China also recorded a goods trade surplus exceeding $1 trillion, while America ran a large goods deficit.
Military: Washington spends far more
Military spending remains one of the clearest numerical gaps. SIPRI estimates that the US spent $954 billion on defence in 2025, compared with $336 billion for China. US spending represented 33 per cent of global military expenditure, against China's 12 per cent.
AI and technology: different strengths
The US has a major lead in private AI investment. Morgan Stanley data cited in 2026 put US corporate AI spending at $109 billion in 2024, nearly twelve times China’s $9.3 billion. The US also produced roughly twice as many notable AI model releases as China, while China has rapidly expanded AI deployment.
Rare earths: China's strategic advantage
Rare earths highlight China's influence over critical supply chains. China currently accounts for up to 70 per cent of global rare-earth mining and more than 85 per cent of refining and production, according to figures cited by Reuters. The US is seeking alternative sources to reduce dependence.
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