How Much Has China Grown? Really…
Anyone who has lived in China at any point in the last 10 years will attest to the growth of China’s east coast cities. For many who watched China’s rise, one of the most amazing measures was GDP growth, and the fact that China has been able to sustain double digit growth for so many years.
but has it? Or is China smaller than we have been lead to believe by various sources?
Well, if Albert Kiedel of Carnegie’s Endowment for International Peace has read an AD report right, China may actually be 40% smaller than previously thought.
In a little-noticed mid-summer announcement, the Asian Development Bank presented official survey results indicating China’s economy is smaller and poorer than established estimates say. The announcement cited the first authoritative measure of China’s size using purchasing power parity methods. The results tell us that when the World Bank announces its expected PPP data revisions later this year, China’s economy will turn out to be 40 per cent smaller than previously stated.
Read Original Post Here
Leave a Comment