Bigger Beijing
05/01/2014 | | China and PPP, Chinese GDP, econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist
According to one measure, later this year China will overtake the US as the world’s largest economy, a spot held by the US since 1872. The measure used is purchasing power parity and it’s highly subjective and assumption laden. Worse, Chinese data can’t be trusted. That said, even using exchange rates the US is only expected to hold the top spot for another decade. Top spot or not, China matters!