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Trillion is a number with two distinct definitions: 1,000,000,000,000 , i.e. one million million , or 10 12 (ten to the twelfth power ), as defined on the short scale . This is now the meaning in both American and British English.
Traditional British usage assigned new names for each power of one million (the long scale): 1,000,000 = 1 million; 1,000,000 2 = 1 billion; 1,000,000 3 = 1 trillion; and so on. It was adapted from French usage, and is similar to the system that was documented or invented by Chuquet .
At the same time, household debt rose from £420 billion in 1994 to £1 trillion in 2004 and £1.46 trillion in 2008 – more than the entire GDP of the UK. [ 84 ] This extended period of growth ended in Q2 of 2008 when the United Kingdom entered the Great Recession brought about by the 2007–2008 financial crisis .
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Social media giant Meta Platforms rejoined the trillion-dollar club in January 2024, but it’s no stranger to the list. Meta previously hit a $1 trillion market cap back in 2021, when it was ...
Therefore, each of these words translates to the American English or post-1974 British English word: trillion (10 12 in the short scale), and not billion (10 9 in the short scale). On the other hand, the pre-1961 former French word billion , pre-1994 former Italian word bilione , Brazilian Portuguese word bilhão , and Welsh word biliwn all ...
A debt of $34 trillion is more than the combined GDP of the top five global economies after the U.S. — China ($17.9 trillion), Japan ($4.2 trillion), Germany ($4.0 trillion), India ($3.4 ...
The Trillion dollar club is an unofficial classification of the world's major economies with a gross domestic product (nominal GDP) of more than US$1 trillion per year. [ 1 ] [ 2 ] As of 2023, it included 19 countries.