Marla_Singer
United in diversity
Your thoughts ?
China overtook the US as Biggest Economy in 2010
- Thread starter Marla_Singer
- Start date
Your thoughts ?
JerichoHill
Bedrock of Knowledge
China has what, 1.3 billion? to the US's 300m? Whoo!
We've had about 4 threads on this topic, honestly. Dup thread.
We've had about 4 threads on this topic, honestly. Dup thread.
Marla_Singer
United in diversity
Yeah, and Norway has a population of 5 million. What's your point?
Haven't seen them. If you find me a link I would be glad.
Cynovolans
Not in my dimension.
You forget to sacrifice one ungulate to Angelina Jolie and the whole world-order is thrown off balance. 
JerichoHill
Bedrock of Knowledge
Marla
http://forums.civfanatics.com/showthread.php?t=406990&highlight=china+gdp
That's one.
One big problem I have, in all seriousness, is that no one really knows what the heck China's GDP actually is, because their government-released data has been proven faulty. And I am not talking about a percentage or two. We may be talking 25% upwardly biased. I think its a foregone conclusion China will overtake the US in GDP @ some point in our lives, but the data China produces is not reliable so any study must make assumptions that are likely not going to be actually true. Or they fudge the data in some way that really, they can't justify in the end.
(I have similar reasons to not like using U6, for instance. At least I am consistent in my disdain for badly measured metrics)
http://forums.civfanatics.com/showthread.php?t=406990&highlight=china+gdp
That's one.
One big problem I have, in all seriousness, is that no one really knows what the heck China's GDP actually is, because their government-released data has been proven faulty. And I am not talking about a percentage or two. We may be talking 25% upwardly biased. I think its a foregone conclusion China will overtake the US in GDP @ some point in our lives, but the data China produces is not reliable so any study must make assumptions that are likely not going to be actually true. Or they fudge the data in some way that really, they can't justify in the end.
(I have similar reasons to not like using U6, for instance. At least I am consistent in my disdain for badly measured metrics)
Archbob
Ancient CFC Guardian
I visit China a lot and the purchasing power of a middle-class citizen there is nowhere near the purchasing power of a middle-class citizen here. This is BS.
There are 4 of them for each one of us.
Penn World Tables?
Never heard of them.
PPP is good for measuring the QoL of a nation's citizens, but nominal terms is better for measuring different economies against one another, because goods are bought at nominal terms in the global marketplace.
Never heard of them.
PPP is good for measuring the QoL of a nation's citizens, but nominal terms is better for measuring different economies against one another, because goods are bought at nominal terms in the global marketplace.
Archbob
Ancient CFC Guardian
Thats great, but if your going to count the total number of people, you have to count the actual total GDP, in which China is still far behind the US.
In total GDP, the US still trumps China and in GDP per capita we still trump them. Even if you multiply their GDP per capita by 4, we still trump them in that.
This is just some BS number they made up.
According to the World Bank, and its World Development Indicators, this is not true. The gross domestic product (GDP) of the US was nearly three times that on China in the last year that they published figures for (2009). You can check this for yourself here:
http://www.google.com/publicdata?ds=wb-wdi&met=ny_gdp_mktp_cd&tdim=true&dl=en&hl=en&q=gdp+world#met=ny_gdp_mktp_cd&idim=country:USA:CHN
So it depends on whom you want to believe: the World Bank, or some guy at the Peterson Institute.
http://www.google.com/publicdata?ds=wb-wdi&met=ny_gdp_mktp_cd&tdim=true&dl=en&hl=en&q=gdp+world#met=ny_gdp_mktp_cd&idim=country:USA:CHN
So it depends on whom you want to believe: the World Bank, or some guy at the Peterson Institute.
Xanikk999
History junkie
I'm not worried about China. Just because they are inevitably going to become powerful doesnt mean the rest of the world is doomed.
Why does it matter if China is doing well. If companies can't manufacture their junk there cheaply they will move to another third world country. Maybe an African country who knows?
Why does it matter if China is doing well. If companies can't manufacture their junk there cheaply they will move to another third world country. Maybe an African country who knows?
The article is not about nominal GDP
JerichoHill
Bedrock of Knowledge
No, the article isn't
However, my point that the article is garbage b/c we know verifiably that official chinese macroeconomic statistics are garbage (ie unreliable)
However, my point that the article is garbage b/c we know verifiably that official chinese macroeconomic statistics are garbage (ie unreliable)
Shekwan
Kim Chi Quaffing Celt
You're the only one here implying that China becoming the economic top dog could be a bad thing...
Formaldehyde
Both Fair And Balanced
Xanikk's actually treasonous as far as that goes, openly stating he wants to move to someplace "civilized", like Europe, presumably because he hasn't actually been there.
Formaldehyde
Both Fair And Balanced
Perhaps he's not that bothered by a big brother who actually is watching you in many cases. Where free speech means being able to say things that aren't very controversial and which are generally acceptable to the local standards.
amadeus
Serenity now
Life goes on. 
