China may not overtake America's economy--UK Telegraph article

[Mathguy]

Originally Posted by The Dark Enlightenment

No. I'm talking about long-term Chinese communities, people of Chinese descent who are citizens of other countries - Taiwan, Singapore, Malaysia, Indonesia, the UK, the USA, Canada It's the same story everywhere.

Hmmmmm.....I wonder what types of people would be most likely AND ABLE to flee China during it's various upheavals during the 20th century.

Are you suggesting it was a random sampling of Chinese people?

[PacoMartin]

Originally Posted by le roi

i personally do not care the slightest bit whether China's GDP is larger than the United States' GDP. this is just meaningless to me.
that said, i agree with the article, i've long been skeptical of the validity of China's economic statistics.

China's GDP was only predicted to beat the USA GDP using a Purchasing Power Parity conversion. Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amounts of goods and services in the domestic market as U.S. dollar would buy in the United States.

For instance the World Bank estimates that 419 yen will buy the same amount of goods and services in China as $100 would in the United States. But if you exchange $100 in China you should get 618 yen.

The opposite happens in rich countries. You need 87 Euros in France to buy as much as US$100 does in America. But if you exchange $100 you will only get 76 Euros.

So as China gets richer, then the prices will go up and the PPP conversion factor should also go up, so that theoretically it could be the same as the exchange rate.

But to bolster the question raised by "le roi" this kind of conversion factor is computer for some statistical average, but in real life it is almost meaningless. If you go to Podunk, Iowa a $100 will buy you much more than in Manhattan. Similarly for Shanghai vs a tiny rice paddy.

[Bettafish]

Originally Posted by Mathguy

Are you claiming Chinese working abroard are generally representative of the average Chinese person?

Because my friends that are FROM China and my friends that have worked here and currently work there....would laugh their butts off at you.

It's amazing how smart a race can be when you only track the top 10%.

I am from China too and I do feel Chinese are smarter than Americans, on average.
IQ tests have problems but it's a piece of evidence.

If you are a math guy, you should have know how many Chinese are in your department!

[Bettafish]

Originally Posted by Mathguy

Hmmmmm.....I wonder what types of people would be most likely AND ABLE to flee China during it's various upheavals during the 20th century.

Are you suggesting it was a random sampling of Chinese people?

You mean, elite Mexicans crossed the border and poor Mexicans stay in their country? LOL

Most Chinese immigrants were from rural south China, namely Guangdong and Fujian. "Elite" Chinese were in Beijing, Shanghai etc. and they did not come. That's why Chinatowns use Cantonese instead of Mandarin.

[C. Maurio]

Originally Posted by PullMyFinger

Seems they have over extended themselves in Red China. Many indicators point to another 100 years of American dominance in the world.

China may not overtake America this century after all - Telegraph

We "dominate" the world?? News to me. Maybe militarily for now but in no other area. The Chinese MAKE things. We flip houses and burgers.