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Old 10-12-2014, 04:44 AM
 
2,566 posts, read 2,186,748 times
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Quote:
Originally Posted by 415_s2k View Post
His point was that you had previously said:

If bostonkid is Chinese or Chinese American there's probably a good chance that they know more than "next to nothing" about China, and may indeed speak Mandarin. It's entirely possible. I don't think that it's constructive to automatically try to shut down any dissent by insisting that the opposing viewpoint was reached via stupidity. Why not ask them how they came to that conclusion instead?
Thanks for bringing back some sanity to this thread.
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Old 10-12-2014, 06:18 AM
 
9,893 posts, read 10,146,941 times
Reputation: 5298
Quote:
Originally Posted by EPKS View Post
That was mean. You should not burst their bubbles in any way.
Purchasing power PP of a given amount of money is very easy to understand, but difficult to measure. If you have $100 that may buy you a hotel room and dinner in a small town in Iowa, and barely make it through lunch in Manhattan. Electric rates across the country change by almost a factor of three

But the researchers from International Monetary Fund crunch through statistics and decide that $100 in the US on average has the same purchasing power as 800 pesos. But the current exchange rate is 1300 pesos for $100.

So the GDP of the USA in 2014 is slightly over $17 trillion. The GDP of Mexico is 17 trillion pesos. So the GDP of Mexico expressed in US dollars at current rates is 17/13 trillion dollars. Expressed in purchasing power parity it is 17/8 trillion dollars.

In April it was believed that the GDP of China would be 63 trillion Yuan, and in October 64 trillion Yuan. In both cases the exchange rate was about 6.2 Yuan to the dollar.

These PPP estimates change all the time even if the nominal exchange rate remains the same. For instance Mexico's exchange rate changed to 13.24 pesos/USD from 13.26 pesos/USD over the last 6 months.
But the IMF decided the PPP changed to 8.00 pesos/USD from 8.86 pesos/USD. The effect was to change the PPP calculation of the GDP to $1.296 trillion from $1.288 for 2014. In most cases the change is insufficient to move the rank of the major economies.

But the change in the PPP rate for China raised their PPP GDP by $3 trillion, even though the change in Yuan was only 2.5%.

So it is possible that in 6 months the PPP rate will be calculated differently and USA will go back to being ranked #1 for the next few years.
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Old 10-12-2014, 06:32 AM
 
4,710 posts, read 3,627,252 times
Reputation: 7407
Quote:
Originally Posted by PacoMartin View Post
Purchasing power PP of a given amount of money is very easy to understand, but difficult to measure. If you have $100 that may buy you a hotel room and dinner in a small town in Iowa, and barely make it through lunch in Manhattan. Electric rates across the country change by almost a factor of three

But the researchers from International Monetary Fund crunch through statistics and decide that $100 in the US on average has the same purchasing power as 800 pesos. But the current exchange rate is 1300 pesos for $100.

So the GDP of the USA in 2014 is slightly over $17 trillion. The GDP of Mexico is 17 trillion pesos. So the GDP of Mexico expressed in US dollars at current rates is 17/13 trillion dollars. Expressed in purchasing power parity it is 17/8 trillion dollars.

In April it was believed that the GDP of China would be 63 trillion Yuan, and in October 64 trillion Yuan. In both cases the exchange rate was about 6.2 Yuan to the dollar.

These PPP estimates change all the time even if the nominal exchange rate remains the same. For instance Mexico's exchange rate changed to 13.24 pesos/USD from 13.26 pesos/USD over the last 6 months.
But the IMF decided the PPP changed to 8.00 pesos/USD from 8.86 pesos/USD. The effect was to change the PPP calculation of the GDP to $1.296 trillion from $1.288 for 2014. In most cases the change is insufficient to move the rank of the major economies.

But the change in the PPP rate for China raised their PPP GDP by $3 trillion, even though the change in Yuan was only 2.5%.

So it is possible that in 6 months the PPP rate will be calculated differently and USA will go back to being ranked #1 for the next few years.

Which basically means that no sane person would ever take these ranking seriously. I have not heard any Chinese officials boast about this, nor any Chinese publications. The only media outlet raising this are Western ones designed to create an atmosphere of competition between the US and China and adding fuel to the "China threat"....ie Fox news and friends and their followers, and their strange bedfellows the Liberal media who just want another color revolution for China, like the ones that destroyed Iraq, Egypt, Ukraine (horay for democracy and welcome to fail-state status, civil wars and sectarian violence!)....
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Old 10-12-2014, 11:47 AM
 
10,847 posts, read 11,286,480 times
Reputation: 7586
Quote:
Originally Posted by SK Brown. View Post
Really?
And you believe that?
To me anything that comes from "communist" country is BIG & FAT LIE!

Regardless of the ### you divide that by it's population # and will give you ZERO.

Sorry my friend but BRICS countries are full of it.
Moderator cut: -

first this whole story is not released by the "communist" Chinese government.

second, in 2014, to call China "communist" is kind of stupid. Are you born in the 1940s?

and third, total GDP shows a country's overall economy power. GDP per capita shows living standard. To say the former is not important is ignorant. Luxembourg and Qatar have the highest GDP per capita, do you think the world cares about them more than about China?

last, I don't trust CNN, NBC etc any more than the Chinese media. Both tell lies and hide facts for their respective agenda.

Last edited by Oldhag1; 10-12-2014 at 09:44 PM.. Reason: Personal attack
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Old 10-13-2014, 10:04 AM
 
4,710 posts, read 3,627,252 times
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The fact is, there are many attempts to destabilize governments and regimes because, for one reason or another, the US does not like them, or find them threatening. The US dare not do this to Putin's Russia because it knows that Putin will bring the US right to brinkmanship and Russia has plenty of nukes. But the US does with little countries like Ukraine, Iraq, Egypt, and it does with China because it sees China's leadership as weak and preoccupied with internal development. China also seems to have a lot more to lose, and the Chinese leadership are no where as decisive and willing to go to brinkmanship as the Russians. So the US is trying to destabilize China now through events in HK. It's not paranoia because it's so obvious.

Last edited by Oldhag1; 10-14-2014 at 06:49 AM.. Reason: Removed deleted quote and direct response to it
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Old 10-13-2014, 10:57 PM
 
12 posts, read 8,626 times
Reputation: 10
Cheers for everybody if this thing gonna happen, but as of now china is developing country.
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Old 10-13-2014, 11:48 PM
 
9,893 posts, read 10,146,941 times
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Quote:
Originally Posted by pennyone View Post
Which basically means that no sane person would ever take these ranking seriously..
I think they are value to economists and policy makers.

But seriously, can you imagine an accurate news story?

In their bi-annual meeting the International Monetary Fund adjusted their estimate for China's GDP in 2014 by +2.66%. From billions 62,784 to billions 64,453.

For the purposes of comparison to the $17,416 trillion dollar GDP of the USA the IMF has new statistics suggest that the old rate of 4.293 to the dollar should be 3.655 to the dollar. These rates are much lower than the official exchange rate of 6.224 to the dollar.

Economists consider that there are pros and cons to each estimate. In any case China still has 4.3 times the population of the USA, so on a per person basis, so the individual GDP is radically lower in China than the USA/

Converting China's GDP to equivalent dollars can be done several ways.
1) Using the new PPP rate of 3.655/USD estimates that China's GDP is +1.24% greater than the GDP of the USA.
2) Using the old PPP rate 4.293/USD, estimates that China's GDP is -13.80% less than the GDP of the USA.
3) Using the official exchange rate of 6.224/USD estimates that China's GDP is -40.54% less than that of the GDP of the USA.

It's so much easier to say:
China Just Overtook The US As The World's Largest Economy
Read more: http://www.businessinsider.com/china...#ixzz3G5zs17fL

---------------------------------
In general purchasing power parity calculations are very subjective. For example the Mexican peso trades at about 13 pesos to the USD. Now electronics are very expensive in Mexico, and if you want to get an iPad for the same price you would have to get probably 25 pesos to the dollar. But if you are buying street tacos which are usually $2 apiece in San Diego (even if it is a Mexican firm) an exchange rate of 4 pesos to $1 USD would let you buy the same number of tacos for the same money.

The IMF sets the PPP rate at 8 pesos to the USD.
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Old 10-14-2014, 08:32 AM
 
2,566 posts, read 2,186,748 times
Reputation: 1816
Quote:
Originally Posted by pennyone View Post
The fact is, there are many attempts to destabilize governments and regimes because, for one reason or another, the US does not like them, or find them threatening. The US dare not do this to Putin's Russia because it knows that Putin will bring the US right to brinkmanship and Russia has plenty of nukes. But the US does with little countries like Ukraine, Iraq, Egypt, and it does with China because it sees China's leadership as weak and preoccupied with internal development. China also seems to have a lot more to lose, and the Chinese leadership are no where as decisive and willing to go to brinkmanship as the Russians. So the US is trying to destabilize China now through events in HK. It's not paranoia because it's so obvious.
The U.S. may be trying to destablize the Communist Party of China. And once again, the CCP doesn't represent all of China. It's simply a monopolistic political entity that happens to be in power at this time. Communist Party can rise and fall, just like any other political party in the world - Chinese nation and civilization will be around for a long long time after the CCP is gone.
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Old 10-14-2014, 02:43 PM
 
3,339 posts, read 2,086,220 times
Reputation: 2367
Quote:
Originally Posted by theunbrainwashed View Post
Because, unlike the stupid US government, China doesn't feel the need to appoint themselves as the world savior that nobody wants. China has their own Muslim problem to deal with, why would they care about ISIS?
wait till China needs 20M barrels of oil per day..then we will see what will they do just to make their economy running.for now they can afford just to pay off any trouble maker but when they depend on that trouble maker (middle east) for some 20% or higher of their oil needs????
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Old 10-14-2014, 04:19 PM
 
25,059 posts, read 23,209,382 times
Reputation: 11624
Quote:
Originally Posted by payutenyodagimas View Post
wait till China needs 20M barrels of oil per day..then we will see what will they do just to make their economy running.for now they can afford just to pay off any trouble maker but when they depend on that trouble maker (middle east) for some 20% or higher of their oil needs????
You're thinking like an American, stop thinking like an American. China and Russia signed an exclusive oil and gas deal where China gets priority shipment of energy at lower prices than the world market. Considering that Russia has decades of energy supplies in its territory, China has already secured it's energy supply. Turn off the American news and read international news instead. This was a done deal months ago
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