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China Is Now the World’s Largest Economy. We Shouldn’t Be Shocked
- Bologo 6y agoNominal GDP measures real money that can be traded. PPP measures how cheap or expensive a haircut is in a poor country.
- deleted 6y ago[deleted]
- redis_mlc 6y agoThese articles are always nonsense: - The Chinese population is over 3x more than the US. - Per-capita, the US makes far more income - Real estate speculation is behind a lot of Chinese growth, where some of it real and a lot is bogus. China has had several bank failures reently because of this. - The CCP tarnished China's mfg. reputation, and exports are down by 80 % in some cities in 2020. A lot of those factories are relocating home or to Vietnam/India/etc. - half of their population makes $2/day, if they make anything (farmers are being short-changed, which is bizarre when considering China imports 30% of food even in good times, and that's between 50%-60% in the next year.) The CCP's average wealth targets have fallen apart, and those peasants subject to flood and locusts are ruined.
- IXxXI 6y agoThis ^ !!!
- gaoryrt 6y agoChinese population is 4.375 times greater than US's. Ant economy is one-sixth larger. But iPhone 12 mini sells as a pretty same price (¥5499 vs $699)