China to overtake U.S. economy this year, World Bank says

[senheiser]

ICP 2011: International Comparison Program



No longer #1? China may replace US as biggest economy this year – World Bank — RT Business
China to overtake US economy; India trumps Japan

 

[bolo]

But you can say the same about US that if it included unaccounted for income.....

 

[Beidou2020]

We are already bigger.

 

[cirr]

Sure。

For owner-occupiers，an average American household is deemed to spend 1200 USD a month on housing，while the equivalent Chinese househoud spends 158 yuan。

The US has some 100 million households。China has 4 times as many。

That's how radically different assumptions adopted calculating each nation’s GDP。

 

[Beidou2020]

China's Global Ranking:

• Economic:
Nominal GDP (2)
PPP GDP (2)
Net Investment Position (1)
Labour Force (1)
Gross Savings (1)
Total Investment (1)
Manufacturing (1)
Household Consumption (3)
Trade (1)
Exports (1)
Imports (2)
Annual FDI (2)
Total FDI stock (2)
Annual ODI (3)
Total ODI stock (13)
Agriculture sector (1)
Industrial sector (1)
Services sector (2)
Fiscal Revenue (3)
Fiscal Expenditure (3)
Total Household Wealth (3)
Global Financial Assets (3)
Millionaires (3)
Billionaires (2)


• Financial:
Foreign Exchange Reserves (1)
Sovereign Wealth Fund Assets (1)
Gold Reserves (5)
Reserve Currency % (?)
Foreign Exchange Transactions (9)
SWIFT Traded currency (8)
SWIFT Trade Finance currency (2)
SWIFT Payments currency (8)
Banking Assets (3)
Insurance market (4)
Hedge Fund industry assets (?)
Mutual Fund industry assets (?)
Stock market cap (5)
Bond market (4)
Government bond market (4)
Corporate bond market (3)
Foreign Exchange market (?)
Commodities trading market (?)
Derivatives market (?)
Gold Futures market (2)
IPO market (?)
M&A market (?)
Private Equity market (2)
Venture Capital market (?)
Credit Card market (2)


• Military:
Military spending (2)
Weapons exporter (3)


• Technology:
R&D spending (2)
Number of Scientists (1)
Number of Engineers (1)
International sci-tech papers published (2)
Cited international sci-tech papers (5)
Highly cited international sci-tech papers (4)
Patents granted by WIPO (5)
Fortune 500 global brands (2)
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• Transportation:
Automobile production (1)
Aircraft production (?)
Shipbuilding (1)
Expressway Length (2)
High-Speed Rail Length (1)
Airports (?)
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Waterway length (1)
Pipeline length (1)
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• Production:
Automobile production (1)
Toys production (1)
Movies production (3)


• Consumption:
Household Consumer market (3)
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E-Commerce market (2)
Retail market (2)
Automobile market (1)
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Medical Equipment market (2)
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IT market (2)
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Home Appliance market (1)
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Entertainment & Media market (5)
Movie market (2)
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• Base Metals:
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Manganese production (?)
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Cobalt production (3)
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*Cement production (1)
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*Potash production (?)
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• Precious Metals:
Gold production (1)
Gold consumption (1)
Silver production (2)
Silver consumption (2)
Platinum production (?)
Platinum consumption (1)
Palladium production (?)
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* Diamond production (6)
* Diamond consumption (?)

• Energy:
Electricity production (1)
Electricity consumption (1)
Energy production (1)
Energy consumption (1)
Coal production (1)
Coal consumption (1)
Oil production (4)
Oil consumption (2)
Shale Oil reserves (3)
Shale Gas reserves (1)
Natural Gas production (7)
Natural Gas consumption (3)
Nuclear Power production (?)
Nuclear Power consumption (?)
Hydropower production (1)
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Wind power production (1)
Wind power consumption (1)
Solar power production (1)
Solar power consumption (1)


• Agriculture:
Cereal production (1)
Cereal consumption (1)
Rice production (1)
Rice consumption (1)
Wheat production (1)
Wheat consumption (1)
Corn production (2)
Corn consumption (2)
Soybean production (4)
Soybean consumption (1)
Cotton production (1)
Cotton consumption (1)
Sugar production (3)
Sugar consumption (2)

Meat production (1)
Meat consumption (1)
Pork production (1)
Pork consumption (1)
Beef production (3)
Beef consumption (4 )
Poultry production (1)
Poultry consumption (2)
Chicken production (?)
Chicken consumption (2)
Fish production (1)
Fish consumption (?)
Egg production (1)
Egg consumption (1)
Milk production (2)
Milk consumption (?)

Fruit production (1)
Fruit consumption (?)
Apple production (1)
Apple consumption (?)
Orange production (4)
Orange consumption (?)
Banana production (3)
Banana consumption (?)
Pear production (1)
Pear consumption (?)
Peach production (1)
Peach consumption (?)
Plum production (1)
Plum consumption (?)
Watermelon production (1)
Watermelon consumption (?)

Vegetable production (1)
Vegetable consumption (?)
Tomato production (1)
Tomato consumption (?)
Carrot production (1)
Carrot consumption (?)
Potato production (1)
Potato consumption (?)
Cabbage production (1)
Cabbage consumption (?)


BRANDS:
Ferrari market (2)
Lamborghini market (2)
Porsche market (?)
Bentley market (2)
Rolls-Royce market (1)
Aston Martin market (3)
Mercedes-Benz market (?)
BMW market (1)
Audi market (?)
GM market (1)
Toyota market (?)

Apple market (2)
Nike market(?)

 

[senheiser]

bumb

go to my the title screen and look at the statistics, chinas economy was 13 trillion in 2011 alone. I misunderstood what was it all about, it wasnt about shadow business but new studies from worldbank about ppp rates

 

[senheiser]

look how nervous they are, they know its the truth

 

[Sasquatch]

It's PPP......

 

[rcrmj]

the big number will always seems great since we have the population base, only the incapable will have a tiny number with such massive base

when we have nice ranking in 'per capital criteria' then its time to boogie

 

[bolo]

The only figure I care about is when China's GDP per capita hits at least $10,000 nominal USD.

 

[-SINAN-]

Change the figures from PPP to nominal......

 

[CN.Black]

Wrong,USA will remain its GDP No.1 position untill 2020.And even when China overcomes USA in GDP,we still cannot say that China beats USA in economy.

 

[kankan326]

China is still far behind of US in technology and science, especially culture industry.

 

[farhan_9909]

Even if its PPP.It still is a great achievement.

Starting from zero in 1948 to the biggest GDP in 2014 is indeed a hell mark.Congratulation to every chinese citizen

 

[gambit]

This is the same World Bank that opined that 'China will grow old before getting rich'.

The same World Bank that proposed that China relax the 'one child' policy at woman's age of 35 and older starting in 2010, then decreasing that age level by one year annually to reduce the odds of population shock.

The difference between the US and China, and using post WW II US as an example of growth, is that the US never had the 'guns vs butter' problem post WW II, whereas China today have to contend with educating a population that came out poverty imposed by communism, building infrastructures, competing with established major economic powers, and many more issues. Essentially, China have, or will have, a 'guns vs noodles' problem. Assume that China will economically surpassed US, does that guarantee a long term lead ? No. Because of the aging population and the gender imbalance issues created by the 'one child' policy.