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The NYT reported on new measures of purchasing power parity GDP from the World Bank that show China to be about 40 percent poorer than the old measures. The article notes that some economists question the accuracy of the new measure. It would have been helpful to explain a bit more the reasons for skepticism.
The new measure puts China's per capita GDP in 2005 at $4091, this would be at the level of one of the poorer countries in Latin America. The reason why this seems problematic is that China is reported as having had extraordinary growth over the prior quarter century so that per capita GDP (measured in constant units of Chinese currency) is reported as being 680 percent higher in 2005 than it was in 1980. Given the $4091 figure for 2005, this growth path would imply that China's per capita income in 1980 was about $525 (in 2005 dollars), which would make it far poorer than any country in Sub-Saharan Africa at present.
There is no doubt that China was a poor country in 1980, but it had a life expectancy of close to 70 years, near universal literacy and its population generally had food and clothing. These are not features that one would expect to see in the poorest country in the world.
In short, one must either reject the new measure for China's PPP GDP or reject the growth rates that have been reported over the last quarter century. I don't know which is more suspect, only that the two are inconsistent given plausible views about China's 1980 living standards.
I once lived in a house with young mainland chinese youth; specifically, young Chinese undergraduates in their early 20s. later on, I came into contact with young chinese students too. Generally speaking, there is some fascination with Japanese culture like J-Pop, manga, anime, etc. But there is also a strong strain of nationalism as well that contains Anti-japanese sentiment.
The NYT reported on new measures of purchasing power parity GDP from the World Bank that show China to be about 40 percent poorer than the old measures. The article notes that some economists question the accuracy of the new measure. It would have been helpful to explain a bit more the reasons for skepticism.
The new measure puts China's per capita GDP in 2005 at $4091, this would be at the level of one of the poorer countries in Latin America. The reason why this seems problematic is that China is reported as having had extraordinary growth over the prior quarter century so that per capita GDP (measured in constant units of Chinese currency) is reported as being 680 percent higher in 2005 than it was in 1980. Given the $4091 figure for 2005, this growth path would imply that China's per capita income in 1980 was about $525 (in 2005 dollars), which would make it far poorer than any country in Sub-Saharan Africa at present.
There is no doubt that China was a poor country in 1980, but it had a life expectancy of close to 70 years, near universal literacy and its population generally had food and clothing. These are not features that one would expect to see in the poorest country in the world.
In short, one must either reject the new measure for China's PPP GDP or reject the growth rates that have been reported over the last quarter century. I don't know which is more suspect, only that the two are inconsistent given plausible views about China's 1980 living standards.
This article by Dean Baker
For a "socialist" country, GDP may not reflect living standards in the same way as in other countries.
At that time a lot of things were allocated, not traded.
PPP measurement is useless.
A wealthy Chinese can afford to travel and shop in countries with a higher price level while a Chinese on average salary in China cannot. Those Chinese tourists you see in Japan, South Korea, Taiwan, Singapore, US or France are not farm or factory workers. Most Chinese can afford things in China but not more expensive countries.
Cuba has a relative very high HDI among most developing countries, but most cuban's wealth is lower than the average Chinese or Thais, and they cannot leave Cuba easily.
China has never been as good as Cuba or Soviet Union for HDI comparsion, Even when Mao was alived, China suffer a castrophe in economy and culturally called Cultural revolution which did not happen in other socialist or communist countries.
Quote:
Originally Posted by deborah50
The NYT reported on new measures of purchasing power parity GDP from the World Bank that show China to be about 40 percent poorer than the old measures. The article notes that some economists question the accuracy of the new measure. It would have been helpful to explain a bit more the reasons for skepticism.
The new measure puts China's per capita GDP in 2005 at $4091, this would be at the level of one of the poorer countries in Latin America. The reason why this seems problematic is that China is reported as having had extraordinary growth over the prior quarter century so that per capita GDP (measured in constant units of Chinese currency) is reported as being 680 percent higher in 2005 than it was in 1980. Given the $4091 figure for 2005, this growth path would imply that China's per capita income in 1980 was about $525 (in 2005 dollars), which would make it far poorer than any country in Sub-Saharan Africa at present.
There is no doubt that China was a poor country in 1980, but it had a life expectancy of close to 70 years, near universal literacy and its population generally had food and clothing. These are not features that one would expect to see in the poorest country in the world.
In short, one must either reject the new measure for China's PPP GDP or reject the growth rates that have been reported over the last quarter century. I don't know which is more suspect, only that the two are inconsistent given plausible views about China's 1980 living standards.
You certainly cannot feel much Japanese culture in China by walking the streets and malls in China. Unlike in Taiwan, HK, Singapore, Malaysia or to a lesser extent Australia, US and Canada. Taiwan is the most pro-Japan country in culture, followed by Hong Kong, Singapore and other SE Asian countries. The extent of japanese cultural influence can be felt by anyone walking the streets in their cities. Even London and Paris on the atlantic have higher influence from Japan than Beijing and Shanghai. Anti-Japanese sentiment is strong in China.
Quote:
Originally Posted by tigerbalm1985
I once lived in a house with young mainland chinese youth; specifically, young Chinese undergraduates in their early 20s. later on, I came into contact with young chinese students too. Generally speaking, there is some fascination with Japanese culture like J-Pop, manga, anime, etc. But there is also a strong strain of nationalism as well that contains Anti-japanese sentiment.
You certainly cannot feel much Japanese culture in China by walking the streets and malls in China. Unlike in Taiwan, HK, Singapore, Malaysia or to a lesser extent Australia, US and Canada. Taiwan is the most pro-Japan country in culture, followed by Hong Kong, Singapore and other SE Asian countries. The extent of japanese cultural influence can be felt by anyone walking the streets in their cities. Even London and Paris on the atlantic have higher influence from Japan than Beijing and Shanghai. Anti-Japanese sentiment is strong in China.
It's more or less true.
But you can observe more Thai influence in New York, London, Paris...than in Beijing and Shanghai too. And more Vietnamese influence.....
China does not care too much about other Asian cultures, for obvious reasons.
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How Rich Is China?
