GumNaam
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China ranks No 1 in buying power, but still clings to developing status
China says it is still the world’s largest ‘developing’ country, despite a World Bank report showing it is the No 1 economy in the world when based on purchasing power parity.
www.scmp.com
do you have ANY idea what this means? It means that the u.s. with its $30 trillion worth of local debt that it can't repay will result in the usd daying and becoming cheaper than toilet paper. u.s. should not let its market size get to its head. CHINA now has more buying power than the u.s. & therefore has become the #1 market developing countries want to export to. We already see that with Pakistani exports surging to China as opposed to exporting to the u.s. The Yuan is perfectly placed to replace the usd as the global trading currency, perhaps in the very, VERY near future...
