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| China-Japan-Koreas |
| The limits of a smaller, poorer China |
| 2007-11-16 |
| In a little-noticed mid-summer announcement, the Asian Development Bank presented official survey results indicating ChinaÂ’s economy is smaller and poorer than established estimates say. The announcement cited the first authoritative measure of ChinaÂ’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, ChinaÂ’s economy will turn out to be 40 per cent smaller than previously stated. Why such a large revision in the estimates of ChinaÂ’s economic condition? Until recently, China had never participated in the careful price surveys needed to convert accurately its gross domestic product into PPP dollars. The ADBÂ’s announcement also indicates that the number of dollar-a-day poor in India is closer to 800m than the current estimate of 400m. |
| Posted by:Nimble Spemble |
| #5 KOMMERSANT > WEST SIBERIA HAS YET TO REVEAL ITS BILLIONS IN OIL WEALTH. Russ believes there's Bilyuuhns and Tilyuuhns and Zilyuuhns of crude oil tons down there, but so far oil tap wells yields/extractions have not reflected it, i.e. "wells are dry". WILL CHINA STILL WANT THE RUSS FAR EAST? *ASIA TIMES > SINO-RUSSIAN SPLIT AT REGIONAL SUMMIT. SCO Summit, over economics and regional, inter-nation fuel deals [TURKUMEN/TURKMEN GAS]. RIAN > RUSSIA TO SUPPLY 1/3 OF EUROPEAN GAS. |
| Posted by: JosephMendiola 2007-11-16 22:32 |
| #4 Until recently, China had never participated in the careful price surveys needed to convert accurately its gross domestic product into PPP dollars. Small wonder. The cat's out of the bag and China's going to have a difficult time finding anyone to serve as their whipping boy. They have positioned themselves quite firmly at the epicenter of a potential socioeconomic maelstrom and the storm clouds are gathering. We should have popped their bubble economy long ago. Instead, we have sent them untold bazillions of dollars so that they can modernize their military. The above article makes it crystal clear that the Politburo ranks national prosperity a distant second (or third, or fourth ...) behind military might. |
| Posted by: Zenster 2007-11-16 17:41 |
| #3 In the game civilization I always build roads and railroads as quickly as I can to unify my nation, build up the squares to become more profitable, and speed deployment of units. I'm certain someone in the PRC has a pirated version, youd' think such basic lessons would be easy enough to learn. |
| Posted by: rjschwarz 2007-11-16 13:50 |
| #2 NS - they've been dumping a lot of those reserves on oil. One of the quiet economic revolutions that took place in America after WWII was the interstate highway system. We at this point take for granted the system, but its economic impact upon transportation of goods, expansion of cities and generation of associate and allied business is totally unappreciated but significant to the overall American economic growth for the last fifty years. If I were doing long term central planning for the Chinese economy and looking at similar things to model given geographical size and population, it would certainly be one area I'd be making sure critical resources were in place to support. |
| Posted by: Procopius2k 2007-11-16 08:56 |
| #1 Accurate economic data are state secrets. Publishing them can only cause harm. |
| Posted by: gromky 2007-11-16 02:23 |