Is China Crumbling Under The Weight of Its Own Contradictions"
While China's total GDP is impressive in and of itself, other measurements point to a very different situation ? one of real depression.
The post Is China Crumbling Under The Weight of Its Own Contradictions" appeared first on LUXUO.
Image: Edward He/Unsplash
The gap between the US and China remains wide, with China?s GDP still at only 70 per cent of America?s. Evidently, China?s economic progress has been spectacular, and in this light, the US$14 trillion that make up China?s aggregate product is nothing short of a miracle compared to the state it was in just 20 years ago. But how does China?s quality of life compare to that of other countries" While its total GDP is impressive in and of itself, other measurements point to a very different situation, perhaps even one of real depression.
Nominal GDP, measured against the global reserve currency that is the dollar, puts China at 60th in the world rankings behind the Seychelles and Maldives. As for GDP calculated based on PPP (parity of purchasing power), that being what can be bought equivalently between nations for the same amount of money, it has China relegated to 73rd in the global rankings, behind Guinea for example. The USA is respectively 5th in the first rankings (behind Luxembourg, Switzerland, Republic of Ireland and Norway) and 7th in purchasing power parity.
Image: Ling Tang/Unsplash
READ MORE: The Evergrande Saga ? The Biggest Real Estate Meltdown In China
In truth, America?s performance i...
The post Is China Crumbling Under The Weight of Its Own Contradictions" appeared first on LUXUO.
Image: Edward He/Unsplash
The gap between the US and China remains wide, with China?s GDP still at only 70 per cent of America?s. Evidently, China?s economic progress has been spectacular, and in this light, the US$14 trillion that make up China?s aggregate product is nothing short of a miracle compared to the state it was in just 20 years ago. But how does China?s quality of life compare to that of other countries" While its total GDP is impressive in and of itself, other measurements point to a very different situation, perhaps even one of real depression.
Nominal GDP, measured against the global reserve currency that is the dollar, puts China at 60th in the world rankings behind the Seychelles and Maldives. As for GDP calculated based on PPP (parity of purchasing power), that being what can be bought equivalently between nations for the same amount of money, it has China relegated to 73rd in the global rankings, behind Guinea for example. The USA is respectively 5th in the first rankings (behind Luxembourg, Switzerland, Republic of Ireland and Norway) and 7th in purchasing power parity.
Image: Ling Tang/Unsplash
READ MORE: The Evergrande Saga ? The Biggest Real Estate Meltdown In China
In truth, America?s performance i...
| -------------------------------- |
|
|
