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China Just Overtook The US As The World's Largest Economy by PPP

your points make sense about india but the HK GDP i read was from 2013. china took over HK in 1997. there is not a close correlation to say it was by inheritance.

HK become relative poorer since then.
Do you know HK laws protect the right of foreigners, foreigners still hold high ranking position in authority?

not as you think, HK economy system is separated from China.
see "one country, two system"
 
6% appreciation in INR VS USD abd 8% GDP growth will make indian economy touch 10 TR USD in 10 years.
 
Germany and Japan got elections but lost their independent foreign policy.
That is not a trade I would ever make.

I'd have no right to vote for corrupt politicians and still have an independent foreign policy than the other way round.

Most democratic countries have the right to elect crooks, but only a handful of countries have an independent foreign policy.
You are not free until you have an independent foreign policy. Only US, Russia, China and Iran have truly independent foreign policies.
Are you really saying that because Germany voluntarily joined NATO that she gave up her, "independent foreign policy"? Not hardly. Germany's political parties were certainly not all of one mind and within NATO. Countries could opt in or out and set their own policies. France was part of NATO until de Gaulle kicked us Americans out. Know what we did? We packed up and left, because it was France's decision that we should go. When we insisted that Japan re-arm, Japan refused and became non-aligned. If Japan had not had an independent foreign policy, America would have insisted that Japan participate with the USA in Korea and Vietnam. She refused and America just had to accept it. We have had sharp disagreements over trade which Japan has mostly won, not lost.
 
Useless. Our living standard still need improvement at least for 30 years to reach the western level.

You are right. It's Right to us too, Vietnamese.
The leaders want something big, but a normal guy must have small amount for his living.
 
this news is not welcome by china government. PPP GDP only depends on the way you calculate it. Nominal GDP is more realistic and objective.
 
Are you really saying that because Germany voluntarily joined NATO that she gave up her, "independent foreign policy"? Not hardly. Germany's political parties were certainly not all of one mind and within NATO. Countries could opt in or out and set their own policies. France was part of NATO until de Gaulle kicked us Americans out. Know what we did? We packed up and left, because it was France's decision that we should go. When we insisted that Japan re-arm, Japan refused and became non-aligned. If Japan had not had an independent foreign policy, America would have insisted that Japan participate with the USA in Korea and Vietnam. She refused and America just had to accept it. We have had sharp disagreements over trade which Japan has mostly won, not lost.

Germany and Japan are vassal regimes of the US.
 
an ordinary still able to realize "The Emperor is naked ........................................ with the crown only"

Yeah, every time there is some news about China you always bring out US, maybe we are not rich as USA in terms of individual wealth, but it is more about our strength as a nation.

and yeah, if compared to your country, we are doing really good, so stop blabbing about USA and look your self in the mirror, you are the naked one here, you talk as if you are a US citizen, dont divert the topic, if you want to make comparison, at least do so with your own country. :omghaha:
 
...and virtually all of it lay in complete and total smouldering ruins after the war. The West invested, but the post-war prosperity in both countries was the result of the emerging democratic leadership, like Konrad Adenauer and Ludwig Erhard in Germany that created the 'Wirtsschaftswunder' and Shigeru Yoshida, Nobusuke Kishi & Hayato Ikeda in Japan that created the post-war economic miracle there. However, that would be to just use an economic standard of measurement and we were talking about democracy. Do you really think it is just some odd coincidence, that the most prosperous countries on the planet, the ones with the best human rights records, the ones who treat their own people the best, have labour and adequate workplace safety laws, the ones with the best colleges and technical schools, the ones with real environmental safeguards, the one's that tens of millions of immigrants flock to, (Uh' hm, you know, like...YOU.), that have the highest standards of living, just all happen to be true democracies? Yah, I don't think the jury is still out on that one.

Wirtschaftswunder - Wikipedia, the free encyclopedia
Japanese post-war economic miracle - Wikipedia, the free encyclopedia

Notice how neither article mentioned nothing about "democracy" being a factor in their success? Japan and Germany, while damaged in WWII, still retain many of the key infrastructures from an industrial power, such as accumulated capital, educated work force and technological expertise.
Plus, please, you are from USA, you are in no position to harp about human rights.
 
Nope, China’s economy hasn’t yet surpassed America’s

Back in April, the World Bank shocked the world when it revealed that, based on the real cost of living, China’s economy will surpass the US to close out 2014 as the world’s biggest. The alarm came from the fact that economists expect China to seize the crown only in 2019 or thereabouts.
Well, cue the hand-wringing: It’s official. The IMF just updated the cost-of-living adjustment basis that it uses to forecast 2014 GDP (itself created by the World Bank). The new calculation shows China’s economy will total $17.6 trillion, a hair more than the US’s $17.4 trillion, reports FT Alphaville (registration required).

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According to the Financial Times (paywall), this information should “revolutionize the picture of the world’s economic landscape” and “intensify arguments about control over global international organizations such as the World Bank and IMF.”
But that’s getting a little ahead of ourselves—especially since China overestimates its GDP.
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First let’s get into what the World Bank’s “purchasing power parity” (PPP) adjustments are designed to do. Say one person makes $50,000 a year in New York, and another the same amount—307,000 yuan—a year in Chengdu.
On the face of it, they earn the same. But because food, housing, and so on is much cheaper in Chengdu than in New York, the guy in China can buy the same amount of stuff that a New Yorker with a salary of, say, $80,000 could afford.
That’s why the World Bank’s “purchasing power parity” (PPP) adjustments taking local prices into account—to even out that discrepancy, and up the Chengdu resident’s salary for international comparison purposes to $80,000. On an enormous scale, that’s basically just what happened in the IMF’s calculation: It tells us that China’s GDP will buy its people more shoes or cabbages or whatever than America’s GDP will buy Americans.
But there’s one huge flaw in that logic. The problem isn’t in the adjustment itself, but rather the base data—i.e. how differently China and and the US calculate GDP, says Michael Pettis, a finance professor at Peking University.
Say a business borrows $100 and invests it in a new factory. The factory, however, only creates $80 in value, leaving the company short $20. In the US, either the business sells an asset to pay back the loan or shifts profits from another division, or it defaults, leaving the bank to write down the $20.
But Pettis suspects that since the number and value of defaults in China are far less than those in the US, China isn’t recognizing this bad debt in the same way.
This isn’t necessarily some Communist Party subterfuge. It happens because “Chinese lenders, banks as well as households, treat a substantial portion of the debt as if it were implicitly or explicitly guaranteed by central or local government agencies,” writes Pettis.
So instead of writing down the loss or making the business cough up that $20, a Chinese bank will defer the debt payment—called “rolling over” the loan—to the Chinese company (or in the case of non-state-owned firms, the company might take out another loan via shadow channels, which aren’t recorded on bank balance sheets). That means that not only does the $20 loss never show up in China’s GDP calculations; but the $80 that the factory created does get counted. And presto—$100 of GDP points that really aren’t there.
 

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