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Big Mac is cheapest in China (most expensive in Switzerland, annual Big Mac Index says)
BBC News Online ^ | April 24 2003

Posted on 04/24/2003 3:33:17 PM PDT by knighthawk

The cheapest Big Mac in the world can be bought in China, while the Swiss have to pay nearly four times as much for the same burger.

The Economist magazine's annual Big Mac Index found that McDonald's charged $1.20 for its burger in China and $4.52 in Switzerland.

The Index said these statistics showed that the Chinese yuan was the most undervalued currency in the world, while the Swiss franc was the most overvalued.

The Big Mac Index, introduced in 1986, compares burger prices in countries around the world, using the index as a rough guide to currency valuations.

Euro

It found that the US dollar was more overvalued last year than at any other time in the history of the index.

But it also showed the greenback sliding against other major currencies.

At the moment a Big Mac costs exactly the same in the US as in the countries that belong to the euro.

According to the Index, this implies the euro's purchasing power is exactly $1.

"So, at its current rate of $1.10 the euro is still significantly overvalued against the dollar," the Index said.

Other European currencies - such as the British pound, the Swedish kronor and the Danish kroner were still "significantly overvalued" against the euro, the Index said.


TOPICS: News/Current Events
KEYWORDS: annualindex; bigmac; china; euro
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Cheapest burgers:

China: $1.20
Philippines: $1.23
Russia: $1.31

Most expensive burgers:

Switzerland: $4.52
Denmark: $3.99
UK: $3.08

1 posted on 04/24/2003 3:33:17 PM PDT by knighthawk
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To: MizSterious; rebdov; Nix 2; green lantern; BeOSUser; Brad's Gramma; dreadme; Turk2; Squantos; ...
Europe-list

If people want on or off this list, please let me know.

2 posted on 04/24/2003 3:33:51 PM PDT by knighthawk
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To: knighthawk
"would you like SARS with that?"
3 posted on 04/24/2003 3:35:33 PM PDT by So Cal Rocket (God bless the coalition troops and their families)
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To: So Cal Rocket
We'll defeat the Chinese Commies one clogged artery at a time. Would You like extra sauce on that?
4 posted on 04/24/2003 3:42:01 PM PDT by dwilli
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To: knighthawk
We took our oldest son with us to Europe in 1993. He got a happy meal in Rothenberg Germany and it was called a Junior Tute. He pronounced it yun'ior tuta. It cost about $6, more than double its price in US at the time. Came with a Fanta soda. He liked that.
5 posted on 04/24/2003 3:42:52 PM PDT by buffyt (Can you say President Hillary, Mistress of Darkness? Me Neither!!!!!!!!!!!!!)
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To: So Cal Rocket
My same son was calling China "SARS Country" today. He heard it on TV.
6 posted on 04/24/2003 3:43:34 PM PDT by buffyt (Can you say President Hillary, Mistress of Darkness? Me Neither!!!!!!!!!!!!!)
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To: knighthawk
The Big Mac Index, introduced in 1986, compares burger prices in countries around the world, using the index as a rough guide to currency valuations.

What a crock. This hardly takes into account the "burger wars" in America.

7 posted on 04/24/2003 3:46:04 PM PDT by stands2reason
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To: knighthawk
In Mexico, tomorrow I'll pay 35 pesos for the McTrifica, Fries, (not french) with a coke. About $3.21 in Toluca, Estado de Mexico. With no Fiebre (Fever) Atipica. (SARS)
8 posted on 04/24/2003 3:47:47 PM PDT by rovenstinez
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To: stands2reason
Not a crock at all. McHell puts a lot of work into studying local economies to get the burgers to their predetermined amount of labor to earn the money for their burger. McDs has been working these numbers for a long time, wasn't until 86 that economists took notice.
9 posted on 04/24/2003 3:50:47 PM PDT by discostu (I have not yet begun to drink)
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To: knighthawk
>>the Chinese yuan was the most undervalued currency in the world,

That's true. I had a #1 combo at MacDonalds two days ago in Guangzhou, China. It cost me 17 RMB (about $2 USD). Local food is even cheaper. The purchasing power of one RMB is about the same as one US dolar.
10 posted on 04/24/2003 3:53:11 PM PDT by Lake
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To: knighthawk
Trhey forgot to survey the STAPLES CENTER in Los Angeles.......!
11 posted on 04/24/2003 3:54:24 PM PDT by Republic Rocker
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To: discostu

Not a crock at all. McHell puts a lot of work into studying local economies to get the burgers to their predetermined amount of labor to earn the money for their burger. McDs has been working these numbers for a long time

When a new McDonald's goes up, Burger King says, "Thanks McDonald's -- we'll be putting a restaurant in across the street."

12 posted on 04/24/2003 4:00:07 PM PDT by Zon
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To: knighthawk
And a pound of 4% fat ground sirloin is less..."Have it your way!"...LOL
13 posted on 04/24/2003 4:00:08 PM PDT by kellynla ( "C" 1/5 1st Mar Div '69 & '70 An Hoa, Viet Nam Semper Fi)
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To: Zon
Yep that's Burger King, always a day late and a dollar short.
14 posted on 04/24/2003 4:01:14 PM PDT by discostu (I have not yet begun to drink)
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To: knighthawk
whats in them?
Hold the puppies and the tortoise
special orders just wont thwart us

15 posted on 04/24/2003 4:07:28 PM PDT by joesnuffy (Moderate Islam Is For Dilettantes)
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To: knighthawk
Two All Beef Patties, Special Sauce, Lettuce, Cheese, Pickles, Onions, on a Sesame Seed Bun...

Maybe not the best thing in the world...

But at least it's not French... Tripe and calf's pancreas garnished with snails and garlic/butter/Bordeaux sauce...

Mmmmmm-mmmmm!


16 posted on 04/24/2003 4:32:14 PM PDT by southernnorthcarolina (France is a country located between Andorra and Luxembourg, and is of less consequence than either.)
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To: knighthawk
Nonsense -- nothing to do with currency.
The Chinese big mac is cheap because the Chinese labor is cheap.
The Swiss big mac is expensive because the Swiss labor is expensive.
17 posted on 04/24/2003 4:37:51 PM PDT by Born to Conserve
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To: knighthawk
Switzerland is a rip, but it is one expensive place and those Europeans love their McDonalds. Don't know why. How does Holland rank in there? As for the Philippines, everything is cheap.

I think a better way to calibrate the currencies is to compare, ahem, 'adult' companionship services, but then we probably don't want to go there...

18 posted on 04/24/2003 5:26:55 PM PDT by Citizen of the Savage Nation
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To: stands2reason
It doesn't take into account that Chinese Big Macs are made of ground dog or cat either.
19 posted on 04/24/2003 6:23:37 PM PDT by kylaka
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To: Born to Conserve
Last May I went to Mickey D's in Zurich. There they were serving up the McFondue. Made me proud to be an American.
20 posted on 04/24/2003 6:31:32 PM PDT by rogue yam
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