China Just Overtook The US As The World's Largest Economy by PPP

[vietnamese_sausage]

Are you really saying that because Germany voluntarily joined NATO that she gave up her, "independent foreign policy"? Not hardly. Germany's political parties were certainly not all of one mind and within NATO. Countries could opt in or out and set their own policies. France was part of NATO until de Gaulle kicked us Americans out. Know what we did? We packed up and left, because it was France's decision that we should go. When we insisted that Japan re-arm, Japan refused and became non-aligned. If Japan had not had an independent foreign policy, America would have insisted that Japan participate with the USA in Korea and Vietnam. She refused and America just had to accept it. We have had sharp disagreements over trade which Japan has mostly won, not lost.

germany is liek a string puppet of the united states. vietnam never join any alliance because we are independant

 

[Desertfalcon]

germany is liek a string puppet of the united states. vietnam never join any alliance because we are independant

...and yet you live in a NATO country. Hmmm....

 

[vietnamese_sausage]

Nope.

Because every event they are forced into doing things the US wants.

That's called being a vassal.

Vietnam is not like that. we defeated the united states. no one can claim that.

...and yet you live in a NATO country. Hmmm....

yes not by my choice. i hoope my post did no hurt your feeling but still true. one day i will make vietnam great

 

[pkuser2k12]

Not Just The Largest Economy – Here Are 26 Other Ways China Has Surpassed America​

In terms of purchasing power, China now has the largest economy on the entire planet, but that is not the only area where China has surpassed the United States

by Michael Snyder | October 9, 2014​

In terms of purchasing power, China now has the largest economy on the entire planet, but that is not the only area where China has surpassed the United States. China also accounts for more total global trade than the U.S. does, China consumes more energy than the U.S. does, and China now manufactures more goods than the U.S. does. In other words, the era of American economic dominance is rapidly ending. Global economic power is making a dramatic shift to the east, and that is going to have huge implications for our future. We already owe the Chinese well over a trillion dollars, and as our economic infrastructure crumbles we are feverishly borrowing even more money in a desperate attempt to prop up our falling standard of living. We can’t seem to match the work ethic, inventiveness and determination of China and other Asian nations and it is showing. If we continue down this path, what will the future look like for future generations of Americans?

In terms of raw GDP, the U.S. is still number one, at least for now. But according to the IMF, China is now the number one economy on the entire planet in terms of purchasing power…

The simple logic is that prices aren’t the same in each country: A shirt will cost you less in Shanghai than San Francisco, so it’s not entirely reasonable to compare countries without taking this into account. Though a typical person in China earns a lot less than the typical person in the US, simply converting a Chinese salary into dollars underestimates how much purchasing power that individual, and therefore that country, might have. The Economist’s Big Mac Index is a great example of these disparities.

So the IMF measures both GDP in market exchange terms, and in terms of purchasing power. On the purchasing power basis, China is overtaking the US right about now and becoming the world’s biggest economy.

When I first learned about this, I was quite stunned.

I knew that China’s economy had been roaring, but like most Americans I just assumed that the U.S. would continue to remain head and shoulders above everyone else.

Unfortunately, things are changing at a pace that is much faster than most people ever thought possible. The following are 26 other ways that China has surpassed America…

#1 When you add up all imports and exports, China now accounts for more total global trade than the United States does.

#2 There is now more total corporate debt in China than there is in the United States.

#3 During 2013, we sold about 121 billion dollars worth of stuff to the Chinese, but they sold about 440 billion dollars worth of stuff to us. That was the largest trade deficit that one nation has had with another nation in the history of the world.

#4 China is now the leading manufacturer of goods in the entire world.

#5 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Today, China’s high-tech exportsare more than twice the size of U.S. high-tech exports.

#6 The United States had been the leading consumer of energy in the world for about 100 years, but during the summer of 2010 China took over the number one spot.

#7 China now has the largest new car market in the entire world.

#8 China has more foreign currency reserves than anyone else on the planet.

#9 China is the number one gold producer in the world.

#10 China is also the number one gold importer in the world.

#11 15 years ago, China was 14th in the world in published scientific research articles. But now, China is expected to pass the United States and become number one very shortly.

#12 China is also expected to soon become the global leader in patent filings.

#13 China awards more doctoral degrees in engineering each year than the United States does.

#14 China has the world’s fastest train and the world’s most extensive high-speed rail network.

#15 China uses more cement than the rest of the world combined.

#16 Today, China produces nearly twice as much beer as the United States does.

#17 85 percent of all artificial Christmas trees are made in China.

#18 There are more pigs in China than in the next 43 pork producing nationscombined.

#19 China is now the number one producer of wind and solar power on the entire globe.

#20 China produces more than twice as much cotton as the United States does.

#21 China produces more than three times as much coal as the United States does.

#22 China now produces 11 times as much steel as the United States does.

#23 China controls over 90 percent of the total global supply of rare earth elements.

#24 An investigation by the U.S. Senate Committee on Armed Services foundmore than one million counterfeit Chinese parts in the Department of Defense supply chain.

#25 According to author Clyde Prestowitz, China’s number one export to the U.S.is computer equipment. According to an article in U.S. News & World Report, the number one U.S. export to China is “scrap and trash”.

#26 Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.

The Chinese are using some of their new wealth to buy up land, properties and businesses here in the United States. In fact, just the other day we learned that a group from China is buying New York City’s Waldorf Astoria hotel.

For much, much more on this trend, please see some of my previous articles…

-”The Chinese Are Acquiring Large Chunks Of Land In Communities All Over America”

-”45 Signs That China Is Colonizing America”

-”Meet Your New Boss: Buying Large Employers Will Enable China To Dominate 1000s Of U.S. Communities”

And most Americans don’t realize this, but Chinese-made cars will soon be sold in the United States.

The following is from a recent WND article…

Chinese-made cars will be making their way to the U.S. next year, and guess which company is going to start exporting them to our shores?

A Chinese company, of course.

Chinese-owned Volvo’s parent company, Zhejiang Geely Holding Group, will begin exporting its S60L from China to the United States as early as next year, according to a Reuters report which quoted a senior Volvo executive.

Volvo is trying to take advantage of two new Chinese factories that will make up an export hub to send vehicles to the U.S. and Russia.

Everywhere you look, China is dominating and America is in decline.

If this was a sporting event for little kids, the “mercy rule” would have been invoked by now.

Unfortunately, there is no “mercy rule” on the global economic stage.

The United States is going to have to get things together if it wants to have any hope of competing with the Chinese in the future.

The Chinese are kicking our tails and they know it.

One survey found found that 75 percent of those living in China believe that their country is on the right track.

On the other hand, Americans are not nearly as optimistic.

According to one average of recent surveys, only 28 percent of Americans believe that the United States is on the right track.

I think that those numbers say a lot. We have been in decline for quite some time, but we can never seem to get the ship righted.

Hopefully our leaders can start coming up with some solutions soon, because we are running out of time.



Not Just The Largest Economy – Here Are 26 Other Ways China Has Surpassed America​

 

[Desertfalcon]

yes not by my choice.

You mean you were kidnapped and brought there against your will? Has Canada revoked your right to leave? It's either that, or you are a Canadian citizen and belong to a NATO country or your parents brought you there because they sought greater freedom and opportunity in a land that is, an American lackey state, as you put it. Which is it? I'm just always fascinated by you guys who run down the West, her countries and her values.....and then choose to live, or remain living, there.

 

[isro2222]

Isnt india 3rd in PPP? Someone hear when heard about it declared PPP doesnt make difference. Real GDP of country matters.

 

[Gandhi G in da house]

Good stuff China. Congrats. Would be a bigger deal when done on a nominal GDP basis.

 

[Luca1]

Isnt india 3rd in PPP? Someone hear when heard about it declared PPP doesnt make difference. Real GDP of country matters.

agree. only real GDP matters. China will pass the US several times in the next several years with PPP calculation as different organizations have their own way of calculating PPP.

 

[BoQ77]

Let think about getting US salary and come Malaysia for tourism. Rich men become richer.
Or getting CN salary or financing by parents and come US for studying. Poor guys become poorer.

Or buying hand carry Iphone, imported dairy in China

That's about PPP and nominal.

,I gonna say the lowest salary of China is still much higher than the highest in VN. anyway I'm just feeling really disgusted of being compared with that third-world....

You are crazy.

 

[BoQ77]

As your saying, China must double / triple GDP to USA ; but actually, still be two - third

Not Just The Largest Economy – Here Are 26 Other Ways China Has Surpassed America​

In terms of purchasing power, China now has the largest economy on the entire planet, but that is not the only area where China has surpassed the United States

View attachment 121135
by Michael Snyder | October 9, 2014​

In terms of purchasing power, China now has the largest economy on the entire planet, but that is not the only area where China has surpassed the United States. China also accounts for more total global trade than the U.S. does, China consumes more energy than the U.S. does, and China now manufactures more goods than the U.S. does. In other words, the era of American economic dominance is rapidly ending. Global economic power is making a dramatic shift to the east, and that is going to have huge implications for our future. We already owe the Chinese well over a trillion dollars, and as our economic infrastructure crumbles we are feverishly borrowing even more money in a desperate attempt to prop up our falling standard of living. We can’t seem to match the work ethic, inventiveness and determination of China and other Asian nations and it is showing. If we continue down this path, what will the future look like for future generations of Americans?

In terms of raw GDP, the U.S. is still number one, at least for now. But according to the IMF, China is now the number one economy on the entire planet in terms of purchasing power…

The simple logic is that prices aren’t the same in each country: A shirt will cost you less in Shanghai than San Francisco, so it’s not entirely reasonable to compare countries without taking this into account. Though a typical person in China earns a lot less than the typical person in the US, simply converting a Chinese salary into dollars underestimates how much purchasing power that individual, and therefore that country, might have. The Economist’s Big Mac Index is a great example of these disparities.

So the IMF measures both GDP in market exchange terms, and in terms of purchasing power. On the purchasing power basis, China is overtaking the US right about now and becoming the world’s biggest economy.

When I first learned about this, I was quite stunned.

I knew that China’s economy had been roaring, but like most Americans I just assumed that the U.S. would continue to remain head and shoulders above everyone else.

Unfortunately, things are changing at a pace that is much faster than most people ever thought possible. The following are 26 other ways that China has surpassed America…

#1 When you add up all imports and exports, China now accounts for more total global trade than the United States does.

#2 There is now more total corporate debt in China than there is in the United States.

#3 During 2013, we sold about 121 billion dollars worth of stuff to the Chinese, but they sold about 440 billion dollars worth of stuff to us. That was the largest trade deficit that one nation has had with another nation in the history of the world.

#4 China is now the leading manufacturer of goods in the entire world.

#5 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Today, China’s high-tech exportsare more than twice the size of U.S. high-tech exports.

#6 The United States had been the leading consumer of energy in the world for about 100 years, but during the summer of 2010 China took over the number one spot.

#7 China now has the largest new car market in the entire world.

#8 China has more foreign currency reserves than anyone else on the planet.

#9 China is the number one gold producer in the world.

#10 China is also the number one gold importer in the world.

#11 15 years ago, China was 14th in the world in published scientific research articles. But now, China is expected to pass the United States and become number one very shortly.

#12 China is also expected to soon become the global leader in patent filings.

#13 China awards more doctoral degrees in engineering each year than the United States does.

#14 China has the world’s fastest train and the world’s most extensive high-speed rail network.

#15 China uses more cement than the rest of the world combined.

#16 Today, China produces nearly twice as much beer as the United States does.

#17 85 percent of all artificial Christmas trees are made in China.

#18 There are more pigs in China than in the next 43 pork producing nationscombined.

#19 China is now the number one producer of wind and solar power on the entire globe.

#20 China produces more than twice as much cotton as the United States does.

#21 China produces more than three times as much coal as the United States does.

#22 China now produces 11 times as much steel as the United States does.

#23 China controls over 90 percent of the total global supply of rare earth elements.

#24 An investigation by the U.S. Senate Committee on Armed Services foundmore than one million counterfeit Chinese parts in the Department of Defense supply chain.

#25 According to author Clyde Prestowitz, China’s number one export to the U.S.is computer equipment. According to an article in U.S. News & World Report, the number one U.S. export to China is “scrap and trash”.

#26 Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.

The Chinese are using some of their new wealth to buy up land, properties and businesses here in the United States. In fact, just the other day we learned that a group from China is buying New York City’s Waldorf Astoria hotel.

For much, much more on this trend, please see some of my previous articles…

-”The Chinese Are Acquiring Large Chunks Of Land In Communities All Over America”

-”45 Signs That China Is Colonizing America”

-”Meet Your New Boss: Buying Large Employers Will Enable China To Dominate 1000s Of U.S. Communities”

And most Americans don’t realize this, but Chinese-made cars will soon be sold in the United States.

The following is from a recent WND article…

Chinese-made cars will be making their way to the U.S. next year, and guess which company is going to start exporting them to our shores?

A Chinese company, of course.

Chinese-owned Volvo’s parent company, Zhejiang Geely Holding Group, will begin exporting its S60L from China to the United States as early as next year, according to a Reuters report which quoted a senior Volvo executive.

Volvo is trying to take advantage of two new Chinese factories that will make up an export hub to send vehicles to the U.S. and Russia.

Everywhere you look, China is dominating and America is in decline.

If this was a sporting event for little kids, the “mercy rule” would have been invoked by now.

Unfortunately, there is no “mercy rule” on the global economic stage.

The United States is going to have to get things together if it wants to have any hope of competing with the Chinese in the future.

The Chinese are kicking our tails and they know it.

One survey found found that 75 percent of those living in China believe that their country is on the right track.

On the other hand, Americans are not nearly as optimistic.

According to one average of recent surveys, only 28 percent of Americans believe that the United States is on the right track.

I think that those numbers say a lot. We have been in decline for quite some time, but we can never seem to get the ship righted.

Hopefully our leaders can start coming up with some solutions soon, because we are running out of time.



Not Just The Largest Economy – Here Are 26 Other Ways China Has Surpassed America​

 

[Muzits]

Let think about getting US salary and come Malaysia for tourism. Rich men become richer.
Or getting CN salary or financing by parents and come US for studying. Poor guys become poorer.

Or buying hand carry Iphone, imported dairy in China

That's about PPP and nominal.



You are crazy.

LOL...why quoted me?and what r u talking about?what's your point?

 

[BoQ77]

LOL...why quoted me?and what r u talking about?what's your point?

You said lowest salary in China higher than highest salary in Vietnam. So I have nothing to talk to you.
That's why I said "You are crazy"

 

[Muzits]

You said lowest salary in China higher than highest salary in Vietnam. So I have nothing to talk to you.
That's why I said "You are crazy"

sumthing wrong??u know the city Nanning in Guangxi?which's close to VN,and GX is like the most backward province of china,I saw many vietnamese workers working there and taking 2000~2500RMB per month.in Nanning a dish washer could get 2000RMB per month which's the lowest salary.those vietnamese r working in wood factories taking the lowest salary and work so hard and so happy there.have u ever been to China?

 

[tranquilium]

Well of course as that is because neither article was about their political systems as much as it was their economic policies, but one would be a fool to not realize that having a stable, representative political system, with a clearly established rule of law, worker's rights, individual rights, protection of private property and private enterprise, etc., was not a major factor in their success. As German Chancellor Helmut Kohl pointed out when eulogizing Adenauer,

"Creating and securing the famed stability of the German democracy is without doubt one of Konrad Adenauer's greatest national political achievements. And nowhere is it acclaimed more vigorously than in the letter which Carl J. Burckhardt wrote to Carl Zuckmayer a few days after Adenauer's death. The letter contains the following words on Germany's first Chancellor: "He eliminated the fundamental risk inherent in a democratic state system, that of dissolving into anarchy or leading to dictatorship, by placing state authority where it belonged and by justifying it - from success to success - with his powerful personality."

"Konrad Adenauer recognised the potential which the Social Market Economy offered for establishing the regulatory model that corresponded most closely with his understanding of liberty and responsibility and with his conception of humankind."

"And so Konrad Adenauer is still with us - in the free state in which we live, in the goals towards which we are working, in the European vision which we are seeking to make reality."

All these has zero to do with representative election. In fact, worker's rights is a socialist mechanism that is incorporated into many nation's economic policy after WWII. The same thing goes with protection of private property and private enterprise, which are all economic mechanisms that has nothing to do with how the government representative is selected. All these are economic policies. Individual rights concerns a nation's individual constitutional rights, which again, has nothing to do with the government selection process, which is its own thing. Having a representative government also has nothing to do with electoral process, as the Chinese people's assembly has way better presentation of people from all background than the US congress or senate.

Japan and West Germany's economic success in the 60s has to do with their unique geopolitical position, as well as their good industrial foundation which is built respectively in their fascist/monarchy days.

Basically, you listed a large number of things and almost all of them has zero to do with election, which you seem to take as the measure for democracy. Completely forgetting that the concept of democracy itself has nothing to do with elections.

 

[henry he]

China has reached this spot by good initiative from their government

really hope we can progress together ,but sorry ,i am not the leader,,, pakistan is the only foreign country that i loved ,,,pakistan is our sole friend,

Congrat. 1.4 billion of Chinese and FDI just reach the same production value as 0.3 billion of US could make.

yes ,but how vietnam's GDP is only 2/3 of Shenzhen city !!! wow ,so amazing ,a country compare with a city ,and lose

how about guangxi vs its south neighbor?[/quote
shenzhen city is ok !