4 ms·
Ah, I think that makes sense? Let me guess at the idea here: is it something like, "just because Chinas' domestically produced rice and wheat (for example) are
by civilized 4y ago
Ah, I think that makes sense? Let me guess at the idea here: is it something like, "just because Chinas' domestically produced rice and wheat (for example) are a lot cheaper than the same in Western countries doesn't mean tanks and computers are, because a lot of the materials for the latter are produced by high-income countries and China pays about the same for them as anyone else"
Still, if the analysis is off because it used a 4:1 PPP when it should have used something more like 2:1, that would still suggest a problem? Unless the Chinese goods are inferior.
- cma 4y agoRice and wheat are priced somewhat globally too, the canonical examples are service things like haircuts, childcare, etc. that can only be provided locally.