California has long faced criticism for driving away business and workers, due to high taxes and prices and tough regulations. Yet the Golden State could soon surpass Germany to become the world's fourth-largest economy.
, most notably Tesla and SpaceX Chief Executive Elon Musk, who moved Tesla's headquarters — and himself — to Texas during the pandemic .from some economists that the Golden State could soon surpass Germany to become the world's fourth-largest economy.
"California GDP being pretty big doesn't mean that your median [person] in California is necessarily better off," Zeke said."It just means the aggregate economy is more important, is larger, compared to other large economies.
"The margin of Germany's nominal GDP of $4.22 trillion over California's $3.357 trillion last year was the smallest on record and is about to disappear," Winkler wrote in the piece., strong entrepreneurial spirit, sustained tourism and development, as well as government spending that has helped mitigate potential economic stressors.
"The U.K. was a very similar situation, and the exchange rate moved a lot after Brexit," Asmundson said, referring to Britain's exit from the European Union in 2020."It's not as though this is all California innovation, it's also partially those external factors."
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