China takes over as new global leader

[ChinaToday]

The biggest economic news of the year came almost without notice: China has overtaken the United States as the world's largest economy, according to the scorekeepers at the International Monetary Fund...

China takes over as new global leader | Bangkok Post: opinion

 

[twocents]

Not so fast. Purchasing power parity doesn't mean much.

 

[Chinese-Dragon]

Not so fast. Purchasing power parity doesn't mean much.

The reason the West likes to use PPP for China is because they think we are deliberately hiding the true size of our nominal GDP.

The GDP of the provinces, and China's electricity consumption for example, show that Chinese output might be a lot higher than people expected.

Also they accuse us of holding down the value of the Yuan, therefore holding down our nominal GDP.

So they use PPP as a way to get beyond that. But the real truth lies somewhere in between nominal GDP and PPP.

 

[mughal arslan shah mirza]

Great news. China can and WILL go further. They sky's the limit.

 

[DeVice]

The truth...

It's already almost twice bigger than US.

 

[Cinder]

Lesgo China

 

[dray]

Global Leader!!!

 

[TimeToScoot]

Great news. China can and WILL go further. They sky's the limit.

And what are your predictions for Pakistan?

 

[GeHAC]

Too early to say that.It's not bad to admit the US as the world leader.

 

[AgentOrange]

PPP is meaningless and actually shows how far China has yet to go. A large disparity between a nation's GDP and PPP is indicative of a developing economy. The larger the discrepancy, the more "developing" that country has to do.

There's a reason why the Chinese government tried to suppress reports about "China being the world's largest economy by PPP." It's a tool used by fearmongers and China bashers.

 

[terranMarine]

just wipe the report off the table, there's much more work to be done before China can say we are a developed country.

 

[ahojunk]

That's right. China still has lots of work to do in the central provinces, Tibet, Xinjiang and Inner Mongolia.

These poor provinces need help from the richer coastal provinces.

 

[ChineseTiger1986]

That's right. China still has lots of work to do in the central provinces, Tibet, Xinjiang and Inner Mongolia.

These poor provinces need help from the richer coastal provinces.

Actually, Inner Mongolia is an exception.

List of prefecture-level cities by GDP per capita - Wikipedia, the free encyclopedia

 

[TaiShang]

Ignore the report and the likes. China is just a developing nation with a lot more work to do. I think one of the reasons why these reports are being produced in the West is to later blame China for not being a responsible nation in policing the planet.

 

[terranMarine]

Ignore the report and the likes. China is just a developing nation with a lot more work to do. I think one of the reasons why these reports are being produced in the West is to later blame China for not being a responsible nation in policing the planet.

There's a reason behind all this, why would America suddenly want to be the #2 right now? Our leaders ain't stupid lol, we normal citizens aren't even excited about it either.