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Chinese economy overtakes the U.S.’s to become the largest

marketwatch.com

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Re: Chinese economy overtakes the U.S.’s to become the largest

#111

Post by cmsmith »

AmirS2 wrote: post #57
jvm wrote: post #45

Earlier quoted context omitted.

> So, it's not entirely clear if China is really the biggest economy, or just by using an accounting trick called PPP GDP. There is no objective way of measuring the size of an economy. Imagine some hyper-simplified economies where the only asset produced is computers. Economy A sells 1000 Apple IIs* per year at $3k each. That means it has a nominal GDP of $3m. Economy B sells 1000 Retina Macbook Airs at $1k each, fo…

In Economy C, the workers who've been paid by the govt can then purchase 5000 Retina Macbook Airs at $1k each, the govt receives sales tax, apple employees get paid and pay income tax, and apple employees then spend their remaining money buying more Macbook Airs (going by your simpification that the only asset produced is computers) ... net GDP is then some way over $10m and everybody has a computer and is employed e…

Except that apple doesn't want to sell computers for C$, because all it can buy with them is ditches.

Re: Chinese economy overtakes the U.S.’s to become the largest

#112

Post by melling »

mrfusion wrote: post #91

I predict this story is going to become another "voyager leaving the solar system" type of thing. By one measure or another this is going happen once or twice a year for the foreseeable future.

Well, we've been watching for the last decade as the predictions were made. Now they are coming true. Many people denied that it would happen and China would be another Japan, for example.

We should be observing history at its slow and steady pace. As India and China lead the world within a century, the United States will have to learn to fit into its new role farther down the ladder. We could be the Great Britain of the 22nd century.

Re: Chinese economy overtakes the U.S.’s to become the largest

#118

Post by _almosnow »

known wrote: post #113

About 100 million people in China are surviving on less than $1 a day http://www.chacha.com/gallery/6490/15-things-china-doesn-t-w...

Beware of China. They are not America. They must be evil. And while you're at it, check out "The 10 Ugliest Celebs According To Amanda Bynes".

What a terrible choice for source.

Re: Chinese economy overtakes the U.S.’s to become the largest

#119

Post by icebraining »

known wrote: post #113

About 100 million people in China are surviving on less than $1 a day http://www.chacha.com/gallery/6490/15-things-china-doesn-t-w...

Yeap. They've been raising millions from poverty each year, and they're finally down to less than 8% earning less than $1.

Re: Chinese economy overtakes the U.S.’s to become the largest

#120

Post by ende »

melling wrote: post #112
mrfusion wrote: post #91

I predict this story is going to become another "voyager leaving the solar system" type of thing. By one measure or another this is going happen once or twice a year for the foreseeable future.

Well, we've been watching for the last decade as the predictions were made. Now they are coming true. Many people denied that it would happen and China would be another Japan, for example. We should be observing history at its slow and steady pace. As India and China lead the world within a century, the United States will have to learn to fit into its new role farther down the ladder. We could be the Great Britain of…

Hardly. China's growth is already sputtering. China will go the way of the Asian Tiger. This is catch up. What's far more concerning is imagining a country the size of China undergoing the current meltdown in Japan.
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