Posted on 03/29/2007 11:14:27 AM PDT by nancyvideo
Took you long enough.
PPP GDP makes both Big Macs worth the same.
You think their currency manipulation dropped it by 80%?
PPP is useful to compare standards of living, not levels of production. Now that you understand that their GDP is about $2 trillion, you understand why we don't care about PPP.
“Have you considered the possibility of racially or even ethnically targeted engineered viruses?”
Yes. And so has every major world government.
The Chinese worry me. A lot.
Nope, PPP is a better measure of production because it measures the actual product. Nominal GDP is nothing but currency exchange rates. China's manipulated "$2 trillion" buys more inside China relative to 2 trillion inside the US. And according to the CIA that 2 trillion is actually closer to 10 trillion worth of goods and services.
China is about to pass US carbon emissions in 2007. No production going on?
http://uk.reuters.com/article/scienceNews/idUKL2272661220070323
Great. So you think that China made $10 trillion worth of stuff last year.
Which major producers were forced out of business? How much did our production fall?
Since we don't produce enough on our own, steel imports to the United States are at record highs.
Sounds scary!
We are not engaged in all out war and still can't make enough steel eo supply our needs so the answer to your question is rather obvious.
But you didn't answer either question.
No, we do not have the domestic capacity we need.
Based on what? I know they were hard questions, maybe you could try again?
How much steel do we use for our military? Do you think our domestic production is enough to cover our military needs?
Price is relative. From China's point of view they produced $10 trillion worth of low quality stuff (according to the CIA). But since the Chinese currency is undervalued on purpose, from the American point of view they produced $2 trillion.
My whole point is that they have the industrial production to pump out tons of military equipment, albeit low quality. Their nominal GDP does not reflect their true output because of the currency manipulation. As long as the military equipment is made in China and NOT imported their buying power is magnified. But if they were forced to import Russian stuff for example then their buying power drops.
Worth is not.
From China's point of view they produced $10 trillion worth of low quality stuff (according to the CIA).
And you agree?
But since the Chinese currency is undervalued on purpose, from the American point of view they produced $2 trillion.
So you think their currency is undervalued by 80%?
If China were part of the US those goods and services would be worth $10 trillion. But China is not, and is not affected by all the other factors that make the dollar superior. It still doesn’t change that fact that those factories that are pumping out $10 trillion in PPP can be converted to pumping out military equipment in a war.
The US uses almost 21 million barrels of oil and over 635 billion cubic feet of natural gas per day. Our GDP was over $13 trillion last year.
China uses about 7 million barrels of oil and about 48 billion cubic feet of natural gas per day. And you think that translates into a $10 trillion GDP?
I didn't realize a centrally controlled economy would be that much more efficient than ours. I guess if the CIA, who thought East Germany had a larger economy than West Germany in the early 1980s, says China has a GDP only 20% smaller than ours, it must be true. ROFLMAO!
I just went out and looked, my plastic lawn furniture says "Made in USA", it's my high-tech electronic stuff that says made in China.
If this were true, China's standard of living would be 80% of ours. By asserting this I know with absolute certainty that tdultima has never been to China. It also shows he doesn't understand what PPP is. From what I can tell he's using a PPP multiplier of about 6. Given that, I can buy a $1.00 hamburger in China for about 17 cents. I suppose that's how he makes a $1.7 trillion dollar economy become a $10 trillion economy. But what if the Chinese buyer comes to the US? Will we accept their $2,000 for a $12,000 product? Hardly. To think that China, with a per capita income of just about $1,200, measured in US dollars, is anywhere near our economy (and standard of living) with $40,000+ in per capita income is ridiculous.
I think it's about 5.
But what if the Chinese buyer comes to the US? Will we accept their $2,000 for a $12,000 product?
But, the CIA said we would. LOL!
Whoa!
The size of the circles on the map show the relative size of each area's financial assets. The sizes of the arrows show the magnitude of international holdings. The US is the biggest. China is so insignificant that it has to be lumped with 'emerging Asia'.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.