Countries comparison GDP by PPP (Purchasing Power Parity)

[Toramana]

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html

EU==== $ 15,700,000,000,000
US==== $ 15,660,000,000,000
China== $ 12,380,000,000,000
India== $ 4,735,000,000,000
....
....
....
(See the link above for the rest of the countries)

So China is going to surpass US and EU in the next 5 years (if not 2-3 years). It overtook Japan in 2007 as the world second largest economy(PPP). Now its economy is 3 times the economy of Japan in terms of purchasing power parity(PPP). Phenomenal rise of course---.

[Toramana]

China’s economy shows no fear of Year of the Snake

China’s economy shows no fear of Year of the Snake
CAROLYNNE WHEELER
BEIJING — Special to The Globe and Mail
Published Friday, Feb. 08 2013, 5:30 AM EST
Last updated Friday, Feb. 08 2013, 6:34 AM EST

China bids farewell to the luckiest year of its zodiac, the Dragon, and ushers in the Year of the Snake, associated with fear and bad tidings.

But its economy is starting the new year on an upswing, if last month’s trade data is any indication.

Exports grew a robust 25 per cent year-on-year in January and imports performed similarly well, up 28.8 per cent, according to data released Friday on the last working day before the country’s biggest holiday of the year. The country’s trade surplus is also up, 7.7 per cent year-on-year to $29.2-billion in January.

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The numbers aren’t as strong as they appear; all economists warn there are seasonal distortions, with some even producing their own calculations taking into account the Chinese New Year holiday falling later this year than last. Inflation – though again distorted by the holiday season – was at a moderated 2 per cent, down from last month’s seven-month high, and deflation in the producer price index has also eased, falling 1.6 per cent, reflecting manufacturers’ rising demand for raw materials.

“Today’s strong trade data rebound reflects Chinese New Year distortions. External demand is likely stabilizing but a substantial sustained recovery is not yet in sight. We remain cautious on the external outlook but optimistic for China’s domestic recovery,” wrote Qu Hongbin and Sun Junwei at HSBC, which produced its own calculation of exports growth allowing for the five extra working days in January this year, and found exports’ real growth amounted to a more modest 12.4 per cent year-on-year.

Still, they found optimism in China’s increasing competitiveness in higher value-added production, as evidenced by a higher growth in machinery exports over more labour-intensive items, as well as by the location of the increased exports – mainly to destinations outside the United States, Europe and Japan.

“We believe China has the potential to continue expanding its share of global exports given that it has 20 per cent of the global labour force but still accounts for just 10 per cent of global exports. And urbanization is the key to unlocking this potential,” Mr. Qu and Ms. Sun wrote.

Even the state’s method of releasing this month’s data suggested its growing confidence; for the first time the trade numbers were also given in Chinese yuan, instead of U.S. dollars alone. China is trying to promote the yuan’s use as an international currency although it is not yet fully convertible outside Chinese borders; offshore trading centres are developing in Hong Kong, Singapore and London and this week Taiwan also received approval as a yuan clearing house.

“It does symbolize its growing importance and confidence,” said Alaistair Chan, economist at Moody’s Analytics, in a telephone interview.

“There are obvious caveats to all of this stuff, as there always is,” he said of the data. “I do think there is a gradual inflow of growth. I think the trade situation is improving and the economy is recovering…The investment cycle is picking up again.”

China

[Badlun]

https://www.cia.gov/library/publicat.../2001rank.html

EU==== $ 15,700,000,000,000
US==== $ 15,660,000,000,000
China== $ 12,380,000,000,000
India== $ 4,735,000,000,000
....
....
....
(See the link above for the rest of the countries)

So China is going to surpass US and EU in the next 5 years (if not 2-3 years). It overtook Japan in 2007 as the world second largest economy(PPP). Now its economy is 3 times the economy of Japan in terms of purchasing power parity(PPP). Phenomenal rise of course---.

Iran is No 18, Pakistan 28 but Afghanistan 109!!!!!!!!!!!!

[Toramana]

Iran is No 18, Pakistan 28 but Afghanistan 109!!!!!!!!!!!!

I believe, the size of many Asian economies in GDP terms is much bigger than estimated because of the undocumented nature of such economies. In almost every Asian country, there is an informal, underground economy that the state doesn't know of. You reckon Afghan economy to be 50 billion dollars while Pakistani economy to be 600 -650 billion dollars.





Growing informal economy

WHILE there are different estimates about the size of the informal economy, some consensus is emerging that it has grown to more than half of the formal economy.

A latest study by the Federal Board of Revenue says it has already gone beyond $100 billion while the figure so far cited by other studies has ranged between $80 and $90 billion.

Determining the size of the informal ec

Growing informal economy | DAWN.COM

Tax authorities estimate size of informal economy at 44 percent of GDP

ISLAMABAD: Tax authorities have estimated that the size of informal economy stood in the range of 31.4 to 44 percent of gross domestic product (GDP), according to official documents of the Federal Board of Revenue (FBR).

The proposed amnesty scheme will give last opportunity to avail after approval of the parliament to those who are major beneficiaries of huge volume of black economy, it said.

“Unfortunately, Pakistan has a large percentage of underground economy. It is difficult to estimate the exact volume but different studies have estimated the size of underground / informal economy in the range of 31.4 percent to 44 percent of the GDP,” according to the documents.

The FBR’s working also referred other studies done in the past in order to give policymakers a candid comparison to reach the rationale decision.

Referring to the World Bank’s research done in July 2010, it said that the size of informal economy stood at 36.7 percent of GDP. The State Bank of Pakistan had estimated the size of informal economy at 27.3 percent in 2000s and 28.6 percent in 1990s.

According to the Global Financial Integrity Organization paper on Illicit financial flows from developing countries 2000-09 (December 2011), the illicit financial flows was estimated at $1,449 million.

According to the research conducted by Ali Kemal of Pakistan Institute of Development Economics (PIDE) for 2007-08, Pakistan’s formal GDP was half the GDP. However, it is still an underestimated figure since investment data is not adjusted. The informal economy is 91.4 percent of the formal economy, he revealed during the last PIDE conference held in Islamabad in November.

However, the FBR has informed the prime minister, the finance minister and other cabinet ministers that several countries in recent past have provided opportunity to whiten income in their respective countries.

Tax authorities estimate size of informal economy at 44 percent of GDP - thenews.com.pk

Running on chronic budget deficits, Pakistans economy presents a dichotomy that seemingly defies explanation. While the figures say something else, international restaurants and clothing brands keep propping up all over the country; people keep buying new cars and motorbikes and spending more than ever on clothes and food.

Is Pakistans informal economy land-locking progress? | Business Recorder

[Toramana]

The informal economy of the People’s Republic of China refers to a range of informal economic activity that stands outside of the recognized systems of regulations, taxation, and licenses. Although the term is sometimes understood to describe marginal, unregulated, and even criminal activity, there is considerable overlap between the informal sector and formal economy, and the informal economy serves an important societal function in contributing to employment and economic growth.

The informal economy in China represents a large portion of domestic output, consumption and employment. Employment in the urban sector represents a major part of the Chinese economy: approximately half of urban Chinese workers belong to the informal economy as of 2004.[1]—a significant increase since the 1990s. It is described as fast-growing, dynamic, highly competitive, and it contributes substantially to economic growth.[1] However, there are serious concerns about the lack of protections afforded to workers in the informal sector.

Informal economy of China - Wikipedia, the free encyclopedia

[randolph85]

east takes over west eventually.

imagine the thought of american's immigrating to india in 100 years and being discriminated against for being too white lol

[Toramana]

China Eclipses U.S. as Biggest Trading Nation

China Eclipses U.S. as Biggest Trading Nation - Bloomberg