Posted on 12/17/2007 7:52:12 AM PST by tlb
WASHINGTON (AFP) - The size of China's economy is overestimated by some 40 percent based on most current measures, but is the world's second largest, the World Bank said Monday.
In a report ranking the world's economies, the World Bank said a more reliable method of estimation using "purchasing power parity" (PPP) shows a much smaller value than the traditional market value estimates which the Bank called "less reliable."
The study carried out by the World Bank and other partners was "the most extensive and thorough effort" to measure the relative size of 146 economies using the PPP method which strips out the effect of exchange rates, a Bank statement said.
China participated in the survey for the first time and India for the first time since 1985.
China still ranks as the world's second largest economy with over nine percent of world production, but that compared with 14 percent under the old methodology.
India is the fifth largest with over four percent of the world total, up from two percent using market exchange rates.
In the study, the United States still has the world's biggest economy with 23 percent of global output, but that is down from 29 percent using market rates.
Japan ranks third under the PPP method with seven percent of global output, lower than using market rates.
Incoming group headed to this thread.
The “China is going to destroy America next year, and WalMart and G. Bush are to blame” Crowd.
The US slid too, but China’s still a little over 1/3 our size. At 23% of the world economy, that pretty much walks over criticism that we have too large a carbon footprint.
I see we produce 22.2 percent of the worlds carbon emissions. Since it’s smaller than our percent of the world’s economy, I wonder if we’ll get a medal or something...
http://en.wikipedia.org/wiki/List_of_countries_by_carbon_dioxide_emissions
I see we also reduced our carbon output by 1.3% for the first time in 2006: http://www.washingtonpost.com/wp-dyn/content/article/2007/05/23/AR2007052301510.html
Too bad global warming is not man made...
In once sense that is good, It means we can do more with less... One thing Americans have been brilliant at doing since the first settlers arrived from Europe. The best and brightest then came here, and it still holds true today.
But they’re still a “developing country”, thus they receive exemption from from the Global Warming fiasco.
The failure to properly denote the true scope of China’s military (which is kept heavily secret...by both them and the our own NIE Fifth Columnist type guys) understates the true size of their economy.
Show a post where someone said that China was going to destroy America next year. Most patriots on this site have voiced their concern over the lopsided trade deals we have with China and what will happen to our economy over the LONG term by continually allowing it to happen.
WAKE UP! WE’RE ALL GONNA DIE BECAUSE CHINA GETS MONEY FROM WALMART!!!
lol.
You wrote, “The US slid too, but China’s still a little over 1/3 our size.”
I’m not sure what that means. Are you meaning that they are 3x our size? I’m not being snarky; just inquisitive.
That's the best response you can come up with? Oh that's right your original response was crap.
I’m not sure what that means. Are you meaning that they are 3x our size? I’m not being snarky; just inquisitive."
Theo, I suppose I could have phrased that a little better. The US slid from 29% to 23% while China slid from 14% to 9% as I recall. 9% is a little over 1/3rd of 23%.
Gotcha. I was thinking “size” in terms of number of people, or square miles. “Size” in terms of economy makes sense in the context of this article.
I was surprised to hear this, frankly. I, like many others, had been thinking China was overtaking our economy.
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