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Old 05-04-2014, 12:05 PM
 
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China's export earnings was initially from the US and developed countries, now China's exports to other developing countries are increasing.
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Originally Posted by EPKS View Post
You should learn how to hide your anti-American attitude. Without America, China cannot be where she is today. So cool it or else no one will take you seriously. By the way, if China is so great why are you living there now?
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Old 05-04-2014, 12:15 PM
 
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SATs are much more easier than university admission tests in Asia.
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Originally Posted by gen2010 View Post
Give you some facts. Two types of Chinese students go to US for college nowadays. Very smart students who go to the top university and can score full scholarship. The other type is the very dumb students who fail to get admitted in Chinese Universities.
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Old 05-04-2014, 02:22 PM
 
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Quote:
Originally Posted by gen2010 View Post
The article mentions that in terms of PPP, China's economy is 87% of US in 2011. After 3 years of 8% annual growth, it will be higher than US in 2014.

Of course, when you talk about nominal GDP, it will be somewhere between 2018 or 2020 when China will surpass US. But that is not very far away.
According to IMF's newest predictions, China will grow $4.8 trillion in nominal GDP while the US will grow $4.6 trillion. So the gap b/t U.S. and China isn't really narrowing in nominal terms.
The new global economy - CNNMoney
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Old 05-04-2014, 02:30 PM
 
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Here is why I think GDP (PPP) is not helpful when comparing between countries:

- It isn't real at all. Since it isn't real, different sources rely on different methods of estimations and that's why there are so many different versions. The next day we wake up, perhaps another source will probably bump China and India's GDP (PPP) by another 50%.
- When talking about international trade or comparison, nominal GDP is clearly the better method although it is easily affected by the value of the currency.
- GDP (PPP) does not measure the economic power of a country relative to another country, it is only for measuring a country's economy with the same purchasing power for each $.
- PPP estimates can also vary based on the statistical capacity of participating countries. The International Comparison Program, which PPP estimates are based on, require the disaggregation of national accounts into production, expenditure or (in some cases) income, and not all participating countries routinely disaggregate their data into such categories.
- Some aspects of PPP comparison are theoretically impossible or unclear. For example, there is no basis for comparison between the Ethiopian laborer who lives on teff with the Thai laborer who lives on rice, because teff is not commercially available in Thailand and rice is not in Ethiopia, so the price of rice in Ethiopia or teff in Thailand cannot be determined. As a general rule, the more similar the price structure between countries, the more valid the PPP comparison.
- PPP levels will also vary based on the formula used to calculate price matrices. Different possible formulas include GEKS-Fisher, Geary-Khamis, IDB, and the superlative method. Each has advantages and disadvantages.
- Linking regions presents another methodological difficulty. In the 2005 ICP round, regions were compared by using a list of some 1,000 identical items for which a price could be found for 18 countries, selected so that at least two countries would be in each region. While this was superior to earlier "bridging" methods, which do not fully take into account differing quality between goods, it may serve to overstate the PPP basis of poorer countries, because the price indexing on which PPP is based will assign to poorer countries the greater weight of goods consumed in greater shares in richer countries.

Last edited by Daywalk; 05-04-2014 at 02:44 PM..
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Old 05-04-2014, 02:36 PM
 
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Originally Posted by lokeung) View Post
SATs are much more easier than university admission tests in Asia.
That is because Asia's education focuses on stuffing everything into a teen's brain before university and shaping their future path primarily based on how many marks they get in high school. In the West, school is way more relaxing during primary and high school, and teens or young adults get to decide on their future career path based on their interests.
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Old 05-04-2014, 02:49 PM
 
Location: Westminster, London
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Originally Posted by Daywalk View Post
That is because Asia's education focuses on stuffing everything into a teen's brain before university and shaping their future path primarily based on how many marks they get in high school. In the West, school is way more relaxing during primary and high school, and teens or young adults get to decide on their future career path based on their interests.
A little too relaxing, perhaps.

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Old 05-04-2014, 02:55 PM
 
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Quote:
Originally Posted by gen2010 View Post
Even in terms of nominal GDP, China will surpass the US in 5 years time.

The US GDP is comprised of what? mounting government debt? huge current account deficit?

In US, seeing a doctor costs you 200 dollars. In China, it is about 2 bucks.

the US GDP is very inflated.
https://en.wikipedia.org/wiki/National_wealth
The net wealth (assets-liabilities) of U.S. account for 29.9% of global wealth.
European Union - 29.1%
Japan 9.4%
China 9.2%
The rest 22.4%
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Old 05-04-2014, 02:59 PM
 
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Quote:
Originally Posted by MissionIMPOSSIBRU View Post
A little too relaxing, perhaps.

Instead of overwhelming the teens like they do in Asia, the U.S. education system allows them to develop their own interests and build their mentality instead of blindly following what their parents instruct them to do.

However, I agree with you that the education systems in the U.S. do have many flaws and I personally prefer an education in Asia, (I am studying and working in Hong Kong right now) but I acknowledge that there are some advantages in the US education that other countries don't have.

In essence, both education systems have pros and cons and I personally do not believe we can objectively say what one is better, rather it's personal preference.
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Old 05-04-2014, 03:07 PM
 
Location: Westminster, London
872 posts, read 1,382,592 times
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Quote:
Originally Posted by Daywalk View Post
Instead of overwhelming the teens like they do in Asia, the U.S. education system allows them to develop their own interests and build their mentality instead of blindly following what their parents instruct them to do.

However, I agree with you that the education systems in the U.S. do have many flaws and I personally prefer an education in Asia, (I am studying and working in Hong Kong right now) but I acknowledge that there are some advantages in the US education that other countries don't have.

In essence, both education systems have pros and cons and I personally do not believe we can objectively say what one is better, rather it's personal preference.
I think you may have the best of both worlds in Hong Kong - the rigorousness of asian schooling combined with the personal element of western schools. It would be interesting to get an opinion from someone who's been through this system up to post-graduate level.
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Old 05-07-2014, 09:14 AM
 
Location: Bothell, Washington
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My dad is a college professor here in the US, and one thing he and his colleagues have seen is that students from mainland China are often ill prepared. Sure they did well in high school back home in China, they learned all that was taught to them, which is based on memorizing statistics/figures/facts. But what they don't learn is critical thinking, which of course is huge in really thinking outside the box and innovating. So when they put students in critical thinking situations in classes a lot of the Chinese students are just lost.

And again on the high school test scores- China uses scores from a school or collection of top end schools in Shanghai, and they compare against the complete national scores here in the US- obviously not an even comparison. If we weeded out our bad apples from some of the worst inner city/poor districts, we'd have stellar test scores, too. Just look at these countless highly rated suburban school districts- you have very bright students getting stellar test scores here.
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