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China, 'Number One in the world'? [Copy link] 中文

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Post time 2014-10-18 10:39:47 |Display all floors
Estimating a country's true economic strength is a complicated business. China should be mature enough to focus on its economic weaknesses rather than gloating over its accession to the title of ‘Number One in the world’.

According to Svenska Dagbladet (Swedish Daily), the World Bank has estimated that China’s GDP will shortly surpass its US counterpart to become the largest economy in the world based on purchasing power parity.

The assertion that China should be ranked ‘Number One in the world’ based only on the purchasing power index is not so persuasive. China now is rational and alert to such rankings. This particular ranking is based on the purchasing power parity calculation - although in theory this assessment can offset such factors as the manipulation of exchange rates, the calculation remains open to widespread misinterpretation.

According to the Economist, the purchasing power of the Renminbi is overestimated. The claim that China’s GDP ranks first based only on its purchasing power is unconvincing.

In 2013 China’s per capita GDP was 6,629 US dollars - 30 times more than in 1980. But the number is far below the US rating of 51,200 US dollars. Even if its economy continues to grow at the present rate, it will take China at least 35 years to achieve the per capita GDP of the US. It is therefore ridiculous to assert that China’s GDP surpasses that of the US.

China also lags behind other countries in economic soft power. China is not as sophisticated as the US, Japan, Germany, the UK, Israel and South Korea in innovation. Although China has beefed up its R&D investment in science and technology, that investment remains only 60% of its US counterpart. There is a huge gap between China and the US in terms of soft power.

China has no cause to rest on its laurels over its ranking of ‘Number One in the world’.

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Post time 2014-10-18 11:39:55 |Display all floors
Forget about accolades and status - make sure sustainable development and growth. The rest will fall in place.

----- Confucianism ------------

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Post time 2014-10-18 12:32:22 |Display all floors
All that is good comes from kaifang
All the weight on people' shoulders are self imposed.



I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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2018 Most Popular Member 2016 Most Popular Member Glod Medal 2015 Most Popular Member 2012's Best Moderator Medal of honor August's Best Contributor 2012 July's Best Contributor 2012 Gold Medal

Post time 2014-10-19 05:28:26 |Display all floors
dodge你老母條撚 Post time: 2014-10-19 02:32
STILL peddling crap luv?

What do your letters, luv mean please?

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Post time 2014-10-19 09:42:59 |Display all floors
Stinkneca Post time: 2014-10-19 07:55
All you han jian, Taiwan nationalist, HK  England slave dogs are jealousy of CCP succeed.

Crude and cruel has crude and cruel success



I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2014-10-19 12:13:59 |Display all floors
China has long way to go.

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Post time 2014-10-19 14:33:26 |Display all floors
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