Gross Domestic Product (GDP) CHINA
- 2011
China's GDP is controversial, not
least because it's measured differently to other some countries.
The problem lies with the official
exchange rate - it's established by government regulation and not determined by
market forces - so therefore it's seen as not being a reliable measure of
China's output in relation to other countries worldwide.
According to the CIA World Factbook
comparisons of output across countries is best judged, in the case of China, by looking at GDP at purchasing power
parity - which takes into account the amount of money needed to buy the
same goods and services in two different countries and then calculates an
implied foreign exchange rate. The IMF estimated China's GDP at purchasing
power parity at $11.3tn for 2011.
No comments:
Post a Comment