The Chinese government issued<2010 Overall national ranking>

[CardSharp]

Going by the World bank figures of 1.34 tn for Canada and 1.31 tn for India for 2009, India should have grown bigger than Canada considering the current growth rates.

World Bank, World Development Indicators - Google public data


Sorry to rob you of your pleasure to degrade but you are an year late to take that cheap shot at India, better try to find something negative quick about India cause they are disappearing fast.

Try actually looking up the figures


Economy of India - Wikipedia, the free encyclopedia
$1.501 trillion (2010)[1]



Economy of Canada - Wikipedia, the free encyclopedia
$1.600 trillion (2010) (US$1.522 trillion)[1]


and considering one Canadian dollar is actually worth more than one USD, it's probably better to use 1.600 trillion figure.

1 Canadian dollar = 1.00492 U.S. dollars
http://www.google.ca/search?aq=f&sourceid=chrome&ie=UTF-8&q=canadian+dollar+to+usd

 

[CardSharp]

World GDP ranking

List of countries by future GDP (nominal) estimates - Wikipedia, the free encyclopedia

Canada 10th
Russia 11th
India 12th

 

[Dharmocol]

Try actually looking up the figures


Economy of India - Wikipedia, the free encyclopedia
$1.501 trillion (2010)[1]



Economy of Canada - Wikipedia, the free encyclopedia
$1.600 trillion (2010) (US$1.522 trillion)[1]


and considering one Canadian dollar is actually worth more than one USD, it's probably better to use 1.600 trillion figure.

1 Canadian dollar = 1.00492 U.S. dollars
canadian dollar to usd - Google Search

when comparison's r made in American $$$ then dont introduce other currencies which make u feel better.

Canadian currency stronger than US means in Canadian $ thier economy is smaller than American $ 1.522,not $ 1.6.

World GDP ranking

List of countries by future GDP (nominal) estimates - Wikipedia, the free encyclopedia

Canada 10th
Russia 11th
India 12th

Nopes,All nation's r one position above

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia

 

[CardSharp]

when comparison's r made in American $$$ then dont introduce other currencies which make u feel better.

Which is why the current exchange rate is relevent. I don't see what you are trying to say.

Nopes,All nation's r one position above

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia

Everyone is a place up on your ranking because they didn't count the Eurozone as one single economy (duh) and Canada is still 2 places ahead of India. Your link uses 2009 data I didn't use that ranking because Mr. Bandit felt the 2009 data is dated.

 

[Dharmocol]

Right Canada is still 2 places ahead of India. I didn't use that ranking because Mr. Bandit felt the 2009 data is dated. (your link uses 2009 data)

No it is from 2010 itself,look at the CIA and IMF figures,the world bank figures r from 2009.

but anyway India is 2 places down,but given the small difference India will surpass Canada probably in 2 yrs (maximum).

But Canada is not the real target,its Brazil,though we r growing faster than them,still they r also growing at a rate of 7.6 and have a bigger economy than India.

And by the way can somebody tell me what the rating is all about

 

[bandit]

Try actually looking up the figures


Economy of India - Wikipedia, the free encyclopedia
$1.501 trillion (2010)[1]

Nice try at Wikipedia, but try 'actually' looking at the figures, they are from different sources and the one cited at Canadas page is from Canada's own records and significantly higher than IMF stats quoted in India's page. Try comparing IMF statistics as you did in your next post.

Economy of Canada - Wikipedia, the free encyclopedia
$1.600 trillion (2010) (US$1.522 trillion)[1]


and considering one Canadian dollar is actually worth more than one USD, it's probably better to use 1.600 trillion figure.

1 Canadian dollar = 1.00492 U.S. dollars
canadian dollar to usd - Google Search

Ok I take you aren't that good at economics so I'll just explain this to you, comparing by domestic currencies lead you to comparing on a PPP basis, India ranked 4th, Canada ranked 14th. Comapring by USD standardizes GDP's and is arguably inferior to PPP basis.

World GDP ranking

List of countries by future GDP (nominal) estimates - Wikipedia, the free encyclopedia

Canada 10th
Russia 11th
India 12th

Ok quoting your own words, actually looking at figures could help, in 2011 India and Canada forecasted GDP differs by .034 billions according to IMF, couple that with Canada's forecasted rate of growth at 2.5% and India's growth at 9+%, how long is it before India overtakes Canada if it has not already according to world bank figures?

 

[Chinese-Dragon]

Ok I take you aren't that good at economics so I'll just explain this to you, comparing by domestic currencies lead you to comparing on a PPP basis, India ranked 4th, Canada ranked 14th. Comapring by USD standardizes GDP's and is arguably inferior to PPP basis.

LOL!!

You're trying to lecture Cardsharp on Economics, but what you said here was completely wrong.

comparing by domestic currencies lead you to comparing on a PPP basis

Do you want to explain this?

PPP is based on "relative prices", which is calculated using a basket of goods.

 

[CardSharp]

LOL!!

You're trying to lecture Cardsharp on Economics, but what you said here was completely wrong.



Do you want to explain this?

PPP is based on "relative prices", which is calculated using a basket of goods.

Nevermind the personal attacks. What I said is still true and now he's sidetracking on to some other argument (when did I mention PPP?)

 

[Chinese-Dragon]

Comapring by USD standardizes GDP's and is arguably inferior to PPP basis.

And before we stray even further into "urban legends" territory...

PPP is worthless for comparing the "actual size" of national economies. Obviously because the prices are vastly different in different countries.

According to the Wall Street Journal, earning $2 a day in India makes someone "middle class". Whereas someone who earns $2 a day in Hong Kong or Tokyo will starve to death.

PPP is best used for per-capita measurements, and to measure the standard of living. Just because your goods cost less, doesn't mean that your actual level of wealth is higher.

 

[bandit]

LOL!!

You're trying to lecture Cardsharp on Economics, but what you said here was completely wrong.

Do you want to explain this?

PPP is based on "relative prices", which is calculated using a basket of goods.

Do you mind explaining this to your friend here, cause that is what I understood as his rationale for using Canadas own currency in measuring GDP's.

Do you want to explain this?

Ok so PPP is figured out on relative prices using a basket of goods as a proxy for measuring inflation, now, how do currencies fluctuate against each other? Hint: inflation plays a major role in that along with interest rates.

The rate of inflation is another factor influencing currency exchange-rates. Inflation occurs when the rate of money growth in an economy is higher than the rate of growth in real GDP. Hence more money is chasing fewer goods which in turn drive up the prices of these goods. Since exchange rates are an expression of one unit of a currency in terms of another, inflation essentially changes the relative value of this relation. For example, if America is experiencing higher inflation than Australia, then the AUD/USD ratio increases to represent the increased value of Australian Dollars relative to American dollars. Or seen in another way, one Australian Dollar will now buy more American dollars. There are simply more American dollars around relative to the Australian Dollars. This fact is based on the concept of purchasing power parity. This means that over the long run, the exchange-rate adjusts to reflect the difference in price levels between countries. In theory, a given item will have the same price in two countries adjusted by the prevailing exchange rate.

Market Price | What Drives Market Prices | Definition | Oz Forex

Now I hope you get where PPP came in from when Cardsharp mentioned differing currencies.

Nevermind the personal attacks. What I said is still true and now he's sidetracking on to some other argument (when did I mention PPP?)

See above, your mentioning of currencies other than the standard brings in those issues, so you probably side-tracked and didn't realize it.

And before we stray even further into "urban legends" territory...

PPP is worthless for comparing the "actual size" of national economies. Obviously because the prices are vastly different in different countries.

According to the Wall Street Journal, earning $2 a day in India makes someone "middle class". Whereas someone who earns $2 a day in Hong Kong or Tokyo will starve to death.
PPP is best used for per-capita measurements, and to measure the standard of living. Just because your goods cost less, doesn't mean that your actual level of wealth is higher.

Read the underlined part, thats why PPP is important, what you can do with money is obviously what matters.

Again explain it to your friend here rather than jumping with joy at your discovery of a flaw in my argument, he inadvertently brought in PPP when he mentioned currencies.

Purchasing Power Parity (PPP) is the economic theory that continuously adjusts exchange rates between countries in order to denote the purchasing power of each currency. Thus, PPP refers to the basket of basic goods that can be bought with the currency of a given country

http://www.economywatch.com/node/10796/

 

[cross1993]

Boring fight.

 

[Chinese-Dragon]

Again explain it to your friend here rather than jumping with joy at your discovery of a flaw in my argument, he inadvertently brought in PPP when he mentioned currencies.

OK so you admit that this statement was wrong:

comparing by domestic currencies lead you to comparing on a PPP basis

The point is, if you're going to mock someone by saying they have a poor grasp of Economics, it is best not to make such a basic mistake yourself.

Sort of like lecturing someone on their spelling, while having poor spelling yourself.

 

[Chinese-Dragon]

Going by the World bank figures of 1.34 tn for Canada and 1.31 tn for India for 2009, India should have grown bigger than Canada considering the current growth rates.

Back to the original point made by you, here are the 2010 figures from the International Monetary Fund and the CIA world factbook. (The "World Bank" numbers are for 2009, and so are out of date).

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia

The 2010 figures show Canada at two places higher than India.

 

[bandit]

Boring fight.

LOL, yeah economics is boring, finance is a bit better, probably because you deal with real money.

OK so you admit that this statement was wrong:

The point is, if you're going to mock someone by saying they have a poor grasp of Economics, it is best not to make such a basic mistake yourself.

Sort of like lecturing someone on their spelling, while having poor spelling yourself.

No, you missed the whole point of bringing in PPP due to the mention of currencies, I tried to explain in the previous posts perhaps you could read that again.

And I wasn't mocking him, just trying to correct him, if it felt like mocking do pardon me.

Back to the original point made by you, here are the 2010 figures from the International Monetary Fund and the CIA world factbook. (The "World Bank" numbers are for 2009, and so are out of date).

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia

The 2010 figures show Canada at two places higher than India.

As I pointed out .034 billion greater GDP isnt that great an amount going by world bank stats, how soon do you think India crosses Canada at current growth differential assuming it already hasnt?

 

[Chinese-Dragon]

And I wasn't mocking him, just trying to correct him, if it felt like mocking do pardon me.

Fair enough.

As I pointed out .034 billion greater GDP isnt that great an amount going by world bank stats, how soon do you think India crosses Canada at current growth differential assuming it already hasnt?

How soon? 2012 according to this. (Original data from the IMF).

List of countries by future GDP (nominal) estimates - Wikipedia, the free encyclopedia

What is interesting is that Russia is also doing quite well now, in contrast to their negative 8% growth during the Credit Crunch.