China's (US$8,480) nominal per-capita GDP surpasses Mexico (US$7,993)

[AndrewJin]

I have it said before and I will say it again: the nominal GDP will reach a princely sum of 16 trillion USD in 2018 if China adopts SNA2008 as planned.

LMAO
Then maybe China should stick to the old regimen which underestimates China's GDP for trillions!

 

[Bussard Ramjet]

I have it said before and I will say it again: the nominal GDP will reach a princely sum of 16 trillion USD in 2018 if China adopts SNA2008 as planned.

Where did you get your numbers from?

I have actually read a report regarding this by Rhodium Group, and they estimate an increase of around 1.5-2 trillion dollars.

Theoretically, the GDP is invented for Westnern world, like US. Some virtual economic, like trades in stock market, will create lots GDP. That why U.S.S.R looks extemely weak than US. But it's not the facts.
For example, if the peasants product and consume all by themself, not a single penny will be counted into the GDP.
So USA is not as strong as he looks, and India is not as weak as the GDP number too.

Yes, and USSR used its own system of accounting, which had FAR worse problems than GDP.

Along with that USSR regularly fudged data.

GDP may have its problems, but its definitely the best overall metric for an economy.

 

[AndrewJin]

Asia has a engine, her name is China. While the South American continent is a train without engine.

No, for PDF RSSers, Supa Powa 2012 is the only beacon, contributing the most for the world's economic growth.

 

[beijingwalker]

China's rapidly growing strength is not only in GDP numbers. China makes strides and bounds all across the board in almost everything which shows how China is ascending to the top of the world. India can fudge some GDP numbers but nothing else, no tangible facts can back up their claim.

 

[GeraltofRivia]

Please explain me how.

China's GDP at MER declined from 2015, to 2016.

The reason that China's current price GDP in USD decreased slightly from 2015 to 2016 was that USD appreciated significantly against RMB in 2016 (something like 10%). This means the real growth in China was cancelled out by RMB's depreciation when one looks at GDP in USD in isolation. However, anyone with knowledge in economic matter would not be easily misguided given what happened in the USD/RMB exchange rate. Actually if we look back a few years, GDP in USD would show China grew by 25% in some years, obviously more of half of that was caused by an appreciated RMB.

However, despite that it may be distorted by large fluctuation in the exchange rate, GDP in USD is a useful indicator when comparing the economical performance between countries as it shows the relative value of the national production in a common currency.

 

[AndrewJin]

The reason that China's current price GDP in USD decreased slightly from 2015 to 2016 was that USD appreciated significantly against RMB in 2016 (something like 10%). This means the real growth in China was cancelled out by RMB's depreciation when one looks at GDP in USD alone. However, anyone with knowledge in economic matter would not be easily misguided given what happened in the USD/RMB exchange rate. Actually if we look back a few years, GDP in USD would show China grew by 25% in some years, obviously more of half of that was caused by an appreciated RMB.

However, despite that it may be distorted by large fluctuation in the exchange rate, GDP in USD is a useful indicator when comparing the economical performance between countries as it shows the relative value of the national production in a common currency.

No, GDP is worthless....
We need PPP-Vedic Cowdp.

 

[Mista]

You are yet to explain to me how China is adding an India in 3 years?

At GDP at MER, China's economy stagnated or declined in 2016.

At GDP at PPP, China's economy is only around 2.5 times that of India, and both are growing at roughly the same rates.



Look at Martian's own screenshot.

Look at China's GDP per capita in nominal dollars.

It Declined!

While China's population increased.

View attachment 421816


Here it is straight from IMF.

China's GDP declined from 2015 to 2016.

https://www.imf.org/external/pubs/ft/weo/2017/01/weodata/weorept.aspx?pr.x=61&pr.y=4&sy=2014&ey=2016&scsm=1&ssd=1&sort=country&ds=.&br=1&c=924,534&s=NGDPD&grp=0&a=



Those speeds of growth that you mentioned are for GDP in domestic currency at constant prices.

However, the metric that people use most often, (specially here to show how China is 5 times that of India's size), is GDP in USD at current prices. (Also called nominal dollars)

In nominal dollar terms, China's GDP actually declined in absolute value in 2016.

I'm still waiting @AndrewJin
Please tell me how China is adding one India every 3 years?

I thought we have argued on that point before? 2016 is an anomaly which the USD appreciated greatly against almost all major currencies due to hike in interest rates. The RMB isn't going to depreciate against the USD at that level every year.

https://defence.pk/pdf/threads/sorr...en-postponed-again.509521/page-5#post-9725986

From the link inside that post, it seems like the RMB appreciated again since then to 1USD=6.6RMB.

Let us exclude the RMB appreciation and inflation. Let us also assume that China's growth rate slows down further to 6% for the next 3 years.

Even with these conservative estimates, China's nominal GDP will be approximately 20% larger after 3 years. China's current GDP is around $11t while India's is around $2t. So yeah, China will add the size of India's economy today to their GDP every 3 or 4 years.

 

[AndrewJin]

I thought we have argued on that point before? 2016 is an anomaly which the USD appreciated greatly against almost all major currencies due to hike in interest rates. The RMB isn't going to depreciate against the USD at that level every year.

https://defence.pk/pdf/threads/sorr...en-postponed-again.509521/page-5#post-9725986

From the link inside that post, it seems like the RMB appreciated again since then to 1USD=6.6RMB.

Let us exclude the RMB appreciation and inflation. Let us also assume that China's growth rate slows down further to 6% for the next 3 years.

Even with these conservative estimates, China's nominal GDP will be approximately 20% larger after 3 years. China's current GDP is around $11t while India's is around $2t. So yeah, China will add the size of India's economy today to their GDP every 3 or 4 years.

To predict China adding entire indian economy every 3-4 years is very logical.
We are not talking about those vedic prediction like China adding entire supa powa 2012.....

 

[Mista]

With China's economy 5x the size of India's, an inflation rate of 1.5% for China is equivalent to India growing at 7.5%...

 

[AndrewJin]

With China's economy 5x the size of India's, an inflation rate of 1.5% for China is equivalent to India growing at 7.5%...

FAKE NEWS CNN STYLE....
India is adding entire China economy vedically....

 

[TaiShang]

LMAO
Then maybe China should stick to the old regimen which underestimates China's GDP for trillions!

Agree. Let's not bother and wake up those doomsayers of China's economy, especially the starry-eyed Modiers.