[FreeReign]

GDP in U.S. dollars for China is based on U.S. purchasing power because it is based on the U.S. dollar

Are you saying that your figure has already been adjusted to account for purchasing power or is it RMB converted into American dollars.

Purchasing Power is the same when exchange rates are at equilibrium (not when exchange rates are equal).

Exchange rates stay at or close to equilibrium based on currency market forces.

Thus any commodity in the world described with a common currency is a commodity that has been adjusted for PPP. Any commodity in the world that is not described with a common currency is a commodity that has not been adjusted for PPP.

My GDP figures use a common currency.

[sarcasm]

Purchasing Power is the same when exchange rates are at equilibrium (not when exchange rates are equal). Exchange rates stay at or close to equilibrium based on currency market forces

Such is not the case with the RMB - there is a fixed exchange rate.

[XBob]

So FR, as the dollars were converted at the standard legal rates, purchasing power parity, means that the pleasant 2 bedroom apartment my driver rented when I was last overseas should rent for $10 per month here in the US, just like it did there?

Please rent me an apartment for $10 per month FreeRuin.