History in making - China Just Overtook The US As The World's Largest Economy

[Chinese-Dragon]

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Even if it happens, it is only the very beginning.

ad suddenly all the Chinese members have disappeared, what gives?

Our National Bureau of Statistics does not recognize PPP, all our data is recorded in Nominal figures. And we of course disagree with the American claim that we are deliberately keeping our currency undervalued, since that's the claim they make when they say Chinese Nominal GDP is deliberately being underestimated.

Anyway this news isn't widely reported in China. Anytime the global media goes crazy about how China has become number one at something, it's almost never reported in the Chinese media.

We are still a developing country, we don't want to get ahead of ourselves. There is still a long way to go.

 

[Dr Mian M Ibrar]

congratz to chineese

 

[Desertfalcon]

This is measured in PPP terms, something that is not endorsed by either the government or the people of China. China measures its GDP in nominal terms only. The news does not make the headlines or the front page in China.

So does anyone else interested in a more accurate measure. Nominal GDP measurement has it's faults as well, but PPP measurement is fraught with errors.


Still, China deserves props for the hard work and success of her economic policies.

 

[tranquilium]

ad suddenly all the Chinese members have disappeared, what gives?

It is start of October. It is the long holiday for China.

 

[Jf Thunder]

It is start of October. It is the long holiday for China.

Holiday from PDF too?

This is measured in PPP terms, something that is not endorsed by either the government or the people of China. China measures its GDP in nominal terms only. The news does not make the headlines or the front page in China.

i didnt even get one word you just said

 

[PeaceGen]

imho, the only way China can achieve global superpower status in the economy arena, is to share the wealth with a growing Chinese middle class (that spends some of that money on holiday, or "the customer countries of China" will go into recession hurting Chinese growth and STABILITY only a short while later), and to become more modest and humble in their quest for national unity, as I outlined in the Dalai Lama thread a while back..

 

[Developereo]

With all due respect to China, I don't believe it in the sense that an average Chinese person doesn't live as well as an average American person.

China seems to have a lot of income disparity so the average PPP figure is misleading.

China's Income-Inequality Gap Widens Beyond U.S. Levels - Businessweek

The gap between China’s rich and poor is now one of the world’s highest, surpassing even that in the U.S.

 

[PeaceGen]

With all due respect to China, I don't believe it in the sense that an average Chinese person doesn't live as well as an average American person.

China seems to have a lot of income disparity.

China's Income-Inequality Gap Widens Beyond U.S. Levels - Businessweek

The gap between China’s rich and poor is now one of the world’s highest, surpassing even that in the U.S.

Foodstamps in the USA bro.. There's little left of the American Dream atm.. I'm working to restore that dream and the healthcare system of the EU to former glory, so we can stay useful contributors to the global economy. I emplore all that can, NOT to interfere with my efforts. For all our good and karma.

 

[Luca1]

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India and china have always been the two richest countries so no history in making. India and China are merely regaining the title that they have held for much of recorded human history.

I wonder how they calculate those old numbers. Especially India as it was never a political entity. If Europe ever become one country, than do they combine the GDP of all European countries for historical references

 

[ResurgentIran]

Even if it happens, it is only the very beginning.



Our National Bureau of Statistics does not recognize PPP, all our data is recorded in Nominal figures. And we of course disagree with the American claim that we are deliberately keeping our currency undervalued, since that's the claim they make when they say Chinese Nominal GDP is deliberately being underestimated.

Anyway this news isn't widely reported in China. Anytime the global media goes crazy about how China has become number one at something, it's almost never reported in the Chinese media.

We are still a developing country, we don't want to get ahead of ourselves. There is still a long way to go.

Thats what I like about you Chinese. You are really humble people
Unlike the obnoxious yanks who shout at the top of their lung "USA nr 1".

 

[osama zafar]

Congrats!

 

[vietnamese_sausage]

I talked to my chinese colleagues during lunch about this. they say it doesn't matter. To them nominal gdp per person is more important. They say when china has 15000 per person than they will be impressed.
Do chinese members agree what my colleagues said?

 

[FairAndUnbiased]

I talked to my chinese colleagues during lunch about this. they say it doesn't matter. To them nominal gdp per person is more important. They say when china has 15000 per person than they will be impressed.
Do chinese members agree what my colleagues said?

Nominal doesn't matter either though, since there are different accounting standards in each country and what counts as GDP in one doesn't count in another.

 

[j20]

ppp计算太假，中国还是一个发展中国家
The PPP calculation is too fake, China is still a developing country

 

[mbg]

China will grow larger!