Rank: Veteran Joined: 12/4/2009 Posts: 1,982 Location: matano manne
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murchr wrote:McReggae wrote:Ok.....so the GDP adjusted for PPP to make China beat USA, only one measure! The the GDP output itself, unadjusted, China does not come anywhere close to the USA. Same to GDP per capital ($55,000 for USA and $8,000 for China). Why is the GDP adjusted for PPP greater in China than in USA?.......Economists claim that China has been manipulating its currency to make it much cheaper than the dollar. With these facts in place can we still claim that China's economy is bigger than that of USA? This article here will give you a more clear perspective. But dont be fooled China's economy is huge and part of it is not captured by data. http://www.bloomberg.com...-by-main-benchmark.html . Being a planned economy, China's rate of growth is nothing but phenomenal. Start at 1949 to date with no black skin labour or colonies. The sheer size of the economy of China vis a vis its population correlates to another great leap-forward, of the Maoist era. Remember the advantage of using PPP is based on local purchasing power not dollar purchasing power.
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