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A bit disappointed by the World Bank's methodology - 2014-05-14
In response to China will become the world’s biggest economy this year. (lao)

Seems the World Bank's latest figures use "purchasing power parity" i.e. their figures are based on what the Chinese can buy in China and on what the Americans can buy in America. My understanding is that this is wrong because the prices of housing and food in China are way lower than what they are in America. It's like comparing apples and oranges. The right way is to compare the purchasing power of Chinese - not in China - but on the international markets with the purchasing power of America - not in America - but on the international markets. Based on the latter methodology, the economy of America is twice the size of the economy of China.

Add to this the horrible pollution that the Chinese have to live with in 90% of their cities, and you see China lagging far, far behind America.

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Messages In This Thread
China will become the world’s biggest economy this year. -- lao -- 2014-05-08
Re China will become the world’s biggest economy this year. -- A bit disappointed by the World Bank's methodology -- 2014-05-14
Re China will become the world’s biggest economy this year. -- smiling -- 2014-05-09
Re China will become the world’s biggest economy this year. -- lao -- 2014-05-09
Re China will become the world’s biggest economy this year. -- C'est la merde -- 2014-05-09
Re China will become the world’s biggest economy this year. -- lao -- 2014-05-09
Re China will become the world’s biggest economy this year. -- lao -- 2014-05-09
Re China will become the world’s biggest economy this year. -- C'est la merde -- 2014-05-09
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