Chinese progress provokes aggression amongst Indians

[DeathGod]

You are only looking at the eggs and produced which its produced locally. In a global economy, eggs and milk are not good examples. So don't be so arrogant and use eggs as a measurement of economic activity. In the US, basic items likes eggs and milk and veges are a very minute portion of the expenditure. We buys stuff like Brie cheese from France, electronics from Japan and even grapes from Chile. So think globally. Otherwise, your country would be left further and further behind. I do not think India is insolated from the world economy as how you think.

O my brother!!!!

I talked about CPI basket ( cumulative price index basket on the basis of which inflation is calculated and the basket comprises of the basic goods and necessities including cars etc of an average person in a country). Eggs was just one example. We use Amul chese ( not Brei) , electronics from Korean companies ( Samsung etc ) etc etc. These things cost less in India in nominal terms as compared to U.S.

 

[faithfulguy]

Lets try this one last time.

Five dollars in the USA would be about 200 bucks in India.

I can buy more things in India using the 200 bucks that i have - than i would be able too with the five bucks in the USA. For example i can go watch avatar in 3-d in a multiplex using the 200 bucks that i have. You think Avatar in 3-d in US costs 5 bucks? Think again. The average ticket prices in the US is 8 dollars for a normal movie. How much more expensive would it be for a 3-d feature?

Similarly, a car would cost less in India than the same car in the US. Same goes for lap tops, ipods, etc etc. Get it?

But the problem is that certain things cost more in India than in the US. From what I understand, import cars, lap tops and ipods are imported into India and with higher tarriff, they are more expensive in India.

 

[grey boy 2]

Stop spreading unprofessional comments, better listen to real

economist have to say about (PPP) by example of China;
http://www.asiaing.com/how-large-is-china-s-economy-does-it-matter.html
Saturday, 02 May 2009

China’s rapid economic growth since 1979 has transformed it into a major economic power.

Over the past few years, many analysts have contended that China could soon overtake the United States to become the world’s largest economy, based on estimates of China’s economy on a “purchasing power parity” (PPP) basis, which attempts to factor in price differences across countries when estimating the size of a foreign economy in U.S. dollars. However, in December 2007, the World Bank issued a study that lowered its previous 2005 PPP estimate of the size of China’s economy by 40%.

If these new estimates are accurate, it will likely be many years before China’s economy reaches U.S. levels. The new PPP data could also have an impact on U.S. and international perceptions over other aspects of China’s economy, including its living standards, poverty levels, and government expenditures, such as on the military. This report will not be updated.

Measuring the Size of China’s Economy
Since embarking on a road of free market reforms nearly three decades ago, China has been one of the world’s fastest growing economies. The actual size of China’s economy has been a subject of extensive debate among economists. China reports that its 2005 gross domestic product (GDP) was 18.4 trillion yuan.

Using average annual nominal exchange rates (at 8.2 yuan per dollar) yields $2.2 trillion, equal to less than onefifth the size of the U.S. economy. China’s per capita GDP (a common measurement of living standards) in nominal dollars was $1,761, or 4.2% of U.S. levels. These data would indicate that China’s economy and living standards in 2005 were vastly below U.S. levels.

However, economists contend that these figures are very misleading. First, nominal exchange rates only reflect the price of currencies in international markets, which can vary greatly over time. Secondly, some exchange rate mechanisms, such as between the dollar and the Chinese yuan, may be significantly distorted by foreign government intervention.

Finally, nominal GDP data fail to reflect differences in prices that exist across nations. Surveys indicate that prices in developing countries (such as China) are generally much lower than they are in developed countries (such as the United States and Japan), especially for non-traded goods and services. Thus, a measurement of a developing country’s GDP expressed in nominal U.S. dollars will likely understate (often significantly) the actual level of goods and services that GDP can buy domestically.

 

[scuthan]

Lets try this one last time.

Five dollars in the USA would be about 200 bucks in India.

I can buy more things in India using the 200 bucks that i have - than i would be able too with the five bucks in the USA. For example i can go watch avatar in 3-d in a multiplex using the 200 bucks that i have. You think Avatar in 3-d in US costs 5 bucks? Think again. The average ticket prices in the US is 8 dollars for a normal movie. How much more expensive would it be for a 3-d feature?

Similarly, a car would cost less in India than the same car in the US. Same goes for lap tops, ipods, etc etc. Get it?

Dude, it is you who don't know much about economics. you really think we don't know waht PPP is? it is you understand the idea of PPP at the face value. Yes, PPP is meaningful when evaluate the purchase power of a currency in buying very rudimentary living necessities. if you want live a well-off life, it doesn't make sense as it does with basic living necessities. One of friends who have been to india told me most things related to a quality life in india are more expensive than those in china

 

[DeathGod]

Stop spreading unprofessional comments, better listen to real

economist have to say about (PPP) by example of China;
How Large is China’s Economy? Does it Matter? - Asiaing.com: Free eBooks, Free Magazines, Free Magazine Subscriptions
Saturday, 02 May 2009

1. I am a CFA Level 3 ( Chartered Financial Analyst) candidate and very well know what I am talking about.

2. China follows what we know as a pegged exchange rate system.The value of yuan is not governed by the basis of demand and supply and it affects the PPP calculation of China.

 

[great_han]

Dude, I guess you are still new to this forum. When you talk about Chinese companies and accomplishments, its a direct insult to the ego of many of the members in here.

What is Shanzhai spirit? Can you write it in Chinese, preferably traditional chinese, so I can understand it. I'll retranslate it if necessary.

Pity you cannot read Hanyu Pinyin. Shanzhai spirit is 山寨精神。Can you translate it into English?
Though we belong to the same Han ethnic, Taiwanese are milder while the Mainlanders are wilder and more ambitious. I believe you are a rational Taiwanese(who coined this idiotic word.)
Though having many disputes, I think we Sinosphere(Greater China, Japan, S&N Korea, Viet Nam, Singapore) people still share many same basic values: attaching importance to education and family, secular sociaty, pragmatism, hard working,thrifty,patriotism. Providing a stable circumstance, they will make great progress.

 

[scuthan]

Pity you cannot read Hanyu Pinyin. Shanzhai spirit is 山寨精神。Can you translate it into English?
Though we belong to the same Han ethnic, Taiwanese are milder while the Mainlanders are wilder and more ambitious. I believe you are a rational Taiwanese(who coined this idiotic word.)
Though having many disputes, I think we Sinosphere(Greater China, Japan, S&N Korea, Viet Nam, Singapore) people still share many same basic values: attaching importance to education and family, secular sociaty, pragmatism, hard working,thrifty,patriotism. Providing a stable circumstance, they will make great progress.

how could a chinese diaspora of taiwanese origin who barely read simplified chinese know "shanzhai". there is no corresponding saying in english. if you want one, it is "chinese copy".

 

[grey boy 2]

1. I am a CFA Level 3 ( Chartered Financial Analyst) candidate and very well know what I am talking about.

2. China follows what we know as a pegged exchange rate system.The value of yuan is not governed by the basis of demand and supply and it affects the PPP calculation of China.

Yeah, and i am the president of Cheung-kong holding in HongKong,

Since you are a self-claim CFA candidate, do come for an interview

for a job.

 

[DeathGod]

Yeah, and i am the president of Cheung-kong holding in HongKong,

Since you are a self-claim CFA candidate, do come for an interview

for a job.

Though OffTopic here is my reply :

I would rather not be at Cheung-kong holding in HongKong.

Firstly because I have never heard its name .

Secondly ,if all goes well then I would be joining an Ivy league B school next fall.

Thirdly , my passion is consulting , so if you have any jobs available is a good consultancy then do let me know.

P.S : Is CEIBS any good as a B school? It finds itself a respectable 4th in FT rankings but the foreign student ration is dismal.

Now that we are done, Lets get back to the topic.

 

[scuthan]

1. I am a CFA Level 3 ( Chartered Financial Analyst) candidate and very well know what I am talking about.

2. China follows what we know as a pegged exchange rate system.The value of yuan is not governed by the basis of demand and supply and it affects the PPP calculation of China.

i don't care you are CFA, CIA, or FBI. if you want to convince the others, you got to earn it. You don't even know the limitation of PPP, and why it is not used as a suitable index to measure a coutry's economy while recited the doctrines of textbook.

 

[DeathGod]

i don't care you are CFA, CIA, or FBI. if you want to convince the others, you got to earn it. You don't even know the limitation of PPP, and why it is not used as a suitable index to measure a coutry's economy while recited the doctrines of textbook.

Hahahahaha.. I just love the way you reacted. Tells me a lot about your attitude.

1.I used the CFA thing because the favourite son/daughter of PRC Grey Boy 2 addressed us as someone who dont know what they are talking about before giving link to an article which was only based on China and not how the world sees PPP as.

2. I never said that PPP doesnt have its limitations , I dont know how you reached the conclusion that I dont know its limitations. I simply contested that :

Faithfulguy's saying that PPP is an idiotic index is wrong and just gave a few examples as to how PPP helps us in understanding the real situation .

Are we done yet? I dont like to explain myself like this but sadly some people only have Doubts & Doubts and they just cant trust someone with what he/she is saying.

 

[grey boy 2]

Though OffTopic here is my reply :

I would rather not be at Cheung-kong holding in HongKong.

Firstly because I have never heard its name .

Secondly ,if all goes well then I would be joining an Ivy league B school next fall.

Thirdly , my passion is consulting , so if you have any jobs available is a good consultancy then do let me know.

P.S : Is CEIBS any good as a B school? It finds itself a respectable 4th in FT rankings but the foreign student ration is dismal.

Now that we are done, Lets get back to the topic.

Buddy, if you are an economist as you claim, you got be feel ashame

of your knowledge for not knowing Cheung-Kong Holding.

Cheung Kong Holdings - Wikipedia, the free encyclopedia

Cheung Kong (Holdings) Limited (Cheung Kong Holdings) (Chinese: 長江實業(集&#22296有限公司 Pinyin: Chángjiāng Shíyè (Jítuán) Yǒuxiàn Gōngs&#299 SEHK: 0001,OTCBB: CHEUY is the flagship of the Cheung Kong Group, headquartered in Hong Kong, and one of Hong Kong's leading multi-national conglomerates.

In Hong Kong alone, the Group has nine companies.

Cheung Kong (Holdings) Limited (長江實業(集&#22296有限公&#21496 (SEHK: 0001,OTCBB: CHEUY), a constituent member of the Hang Seng Index.
Hutchison Whampoa Limited (和記黃埔有限公&#21496.

Cheung Kong Infrastructure Holdings Limited (長江基建集團有限公&#21496.

Hongkong Electric Holdings Limited (香港電燈集團有限公&#21496.

Hutchison Telecommunications International Limited.

Hutchison Harbour Ring Limited SEHK: 0715.
TOM Group Limited.

CK Life Sciences Int'l., (Holdings) Inc. (長江生命科技集團有限公&#21496 SEHK: 0775.

TOM Online Inc.

And you are telling me you never heard of it ? i think its time for you

to take a second thought for your so-called CFA career.

 

[DeathGod]

Buddy, if you are an economist as you claim, you got be feel ashame

of your knowledge for not knowing Cheung-Kong Holding.

Cheung Kong Holdings - Wikipedia, the free encyclopedia

And you are telling me you never heard of it ? i think its time for you

to take a second thought for your so-called CFA career.

I am enjoying this conversation. Here is my reply

When you mentioned the name of the company then obviously it would have been a good one. I simply said that I dont want to join it because I havent heard its name. If you are contesting that every Investment banker will be aware of this company then definitely that is a wrong notion.

I am no economist niether did I claimed to be one, I simply said that I know what I am talking about while contesting against the point that PPP is an idiotic way to measure a country's growth etc. Niether more nor less

How tough is it for you guys to understand it? Arent you aware of the boundary of a problem or do you want to extrapolate every statement and generalize it?

Anyways , Get back to the topic, enough of finger pointing.

 

[chinapakistan]

Envy china in border areas ? what a joke.

Even an illegal Bangladeshi laborer in india earns 120-150 Rs per day now in cities. Equivalent to highly educated university graduates from china.

Envying about roads and buildings ? Well in that case indians will envy US or Japan or Korea. Why china ?

I know nothing about economy, but I just understand some basic math.
China's GDP is 3.5 times of india's, even considering in stupid GDP(PPP), china is 7,916,429$M in 2008 that india is 3,288,345$M, china's is 2.4 times of india's. China'population is about 1.3billion and india' s is about 1billion. 2.4/1.3=1.8. Just some simple calculation.Cannt you even do this(some of your ancestor even created number 0)? Shame on you, and now i know why india's literacy rate is so poor. Talk maturely please, dont think of everyone(mabey i should except indian?) here is as fool as you!

 

[Developereo]

Folks,

If I may interject, the article is about perceptions in the north east specifically. India has a lot going for it but do the people in the north east see the benefits of economic growth?

Mani Shankar Aiyar, a former senior diplomat and cabinet minister with responsibility for India's volatile north-east region,

Of course, it is just possible that the good minister is adding a little spice to get extra funds for his districts...