This is with purchasing power parity. It means that in China 1 dollar can purchase more than a dollar here in the U.S. The total number of $$ that China economy pumps out is far less than 4.5 trillion. Maybe 40% of that.
>>This is with purchasing power parity. It means that in China 1 dollar can purchase more than a dollar here in the U.S. The total number of $$ that China economy pumps out is far less than 4.5 trillion. Maybe 40% of that.
That's right. The purchasing power parity can be used to assess the quality of life of the people in different countries, which means the average Chinese can live just as well as those who earn $3600 in the US. However, you can't use purchasing power parity to assess a nation's economic strength.