Something more than a quibble: while the EU has a higher total GDP, that doesn't translate into a higher purchasing power or standard of living---which can get complicated. If some higer ticket items are simply out of reach, maybe there's better markets for stuff people like us sell.

To do this correctly, you need to look at what the markets for X are in a particular country or region.

I'm also appalled with two p's that the author is invoking the "Chinaman" sales fallacy. Once upon a time it was through that China had vast importing potential, for if you could get just 1% of its men to buy a wool suit, you'd be minting gold.

Of course, that ignores the minor detail of why anyone in China would desire a wool suit, let alone be able to pay for it.

Anytime you hear someone say "if we could get just XX% of this market", remember that each sale is made one at a time, and that those individual sales have got to make sense before you can get wild eyed with percentages and big numbers.