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As the Jews continue to fuckup the American economy, and most of Western Europe, China correctly marches ahead to its traditional place as "hao ma yi" economy through the steady state managed centralized application of Capitalism with a Chinese face (China is not a Communist state)........extremely cheap non-unionized compliant (slave) labor; "no red tape" in the so called Communist state, so free enterprise meets its perfect paradise, together with an abundance of capital inflows; absolute political stability guaranteed by the state; fantastic infrastructure that is orientated towards business; a low profile non-proactive foreign policy which emphasizes and bolsters Chinese business interests and resource requirements above everything else.
Yes..... with steel production approaching 500 million, and electricity generation nearer 3800 billion Kwt, China felt like the quiet giant I been talking about for the last 10 tens years, whilst the "experts" at Goldman Sachs continued to estimate China taking over the USA economy much later by 2050, then marked down to 2040, then finally 2025. The reality is here and now.
In the USA by contrast everything is fake.....the money, the economy, the new jobs........and the all important foreign policy on which is based its fake security and defense policy. But in the land of the Free and Brave if you dare tell the truth, or anything approaching it.....you lose your position.
Empires rise, empires fall...and new nations take their place. China is the REAL power of the 21st century, and it is slowly amassing all the other aspects of being a true superpower, aircraft carriers by 2015, stealth submarines, stealth jet fighters.....and so on and so on.
With its $3 trillion FCR it will become the reserve currency of the world, and therefore the banker to the world.
Yes..... with steel production approaching 500 million, and electricity generation nearer 3800 billion Kwt, China felt like the quiet giant I been talking about for the last 10 tens years, whilst the "experts" at Goldman Sachs continued to estimate China taking over the USA economy much later by 2050, then marked down to 2040, then finally 2025. The reality is here and now.
In the USA by contrast everything is fake.....the money, the economy, the new jobs........and the all important foreign policy on which is based its fake security and defense policy. But in the land of the Free and Brave if you dare tell the truth, or anything approaching it.....you lose your position.
Empires rise, empires fall...and new nations take their place. China is the REAL power of the 21st century, and it is slowly amassing all the other aspects of being a true superpower, aircraft carriers by 2015, stealth submarines, stealth jet fighters.....and so on and so on.
With its $3 trillion FCR it will become the reserve currency of the world, and therefore the banker to the world.
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China already world's biggest economy.
Rukmini Shrinivasan of the Times of India blog.
Did China overtake the US as the world's biggest economy in 2010? New numbers for the gross domestic product of different countries at purchasing power parity seem to suggest so. They also suggest India's economy is much bigger than previously thought.
While market exchange rates traditionally formed the basis for comparison of GDP across countries, this method increasingly came under criticism as it did not take into account the differential costs of good and services in countries at different levels of development. As a result, the idea of purchasing power parity, in which the prices of a basket of good and services form the basis of comparison, came into being.
While various agencies, including the IMF, calculate GDP at PPP, the Penn World Tables brought out by the Center for International Comparisons at the University of Pennsylvania (CICUP) since 1970 have come to be regarded among economists as the definitive source.
The yet-to-be-released latest version of the Penn World Tables corrects for biases in past measurements, such as the collection of only urban prices in China, which resulted in Chinas GDP being understated. Factoring in these corrections has resulted in China's GDP at PPP being revised upwards by 27% and India's by 13% for the year 2005, CICUP data made available to TOI show.
Economist Arvind Subramanian, senior fellow at the US-based non-artisan Petersen Institute for International Economics, used the Penn revision as his base to calculate China's GDP for 2010. In his calculations, Subramanian corrected for another key anomaly in the calculation of China's GDP, which was the overstatement of its currency appreciation.
The adjustments increase China's GDP from the current estimate of $10.1 trillion to $14.8 trillion (a rise of 47%, of which 27% is due to revision in the 2005 estimate, and the rest due to smaller-than-assumed increases in the cost of living between 2005 and 2010).
This $14.8 trillion figure exceeds the US GDP of $14.6 trillion, Subramanian said. So by Subramanian's calculations, China's GDP at purchasing power parity surpassed that of US in 2010. While the difference is small enough to be within the margin of error, Subramanian says with China's growth likely to substantially exceed that of United States in 2011, the difference in their levels of GDP will likely move beyond error margins.
The impact of these revisions is relatively smaller for India. ''The revised number for India's GDP measured in PPP terms is, in my view, the IMF's 2010 number increased by 13%. So the revision required is not nearly as much as for China. The IMF's number for India is about $4 trillion and I would put it at close to $4.4 trillion (again in PPP terms),'' Subramanian explained to TOI via email. In terms of world rankings, India would remain the fourth largest economy behind China, the US and Japan.
