China & Japan
ml at augur.demon.co.uk
Tue Jun 25 11:11:55 MDT 1996
In message <email@example.com> rahul at peaches.ph.utexas.edu (Rahul Mahajan) writes:
> >In message <960622045226_72763.2240_EHL129-4 at CompuServe.COM> Jon Flanders
> >> And keep in mind that the total output of the Chinese economy is something
> >> like a seventh of that of Japan right now.
> >IIRC, it is the *per capita* output of China which is about
> >a 1/7th or an 1/8th of Japan's. It's *total output* is
> >probably equal to or greater than Japan's by now, given
> >the 10-15% growth rates which Chinese manufacturing
> >has been enjoying during much of the 1980s and 90s.
> >China may have a large economy, but hundreds of millions of
> >its people are impoverished because of its even larger population.
> >Michael Lynch
> I believe Jon is talking about the GNP (in dollars, say), for which his
> figure is about right. This Purchasing Power Parity crap cuts no ice with
> anyone on the world markets.
Sorry, I must have seen figures on purchasing power parity
when I read that China's GDP was about equal to Japan's.
Anyway, shouldn't purchasing power parity figures have some value.
After all, millions of the Indian poor can feed themselves
adequately (i.e. they are not starving) for the equivalent of
$400-500 a year. Whereas, in the UK, I doubt $500 could feed
anybody for more than 3-4 months.
It seems to me that the reason the Indian poor can feed themselves
and their familes on incomes which are equivalent to $500 a year
is because the price of basic foods (such as rice) is much
cheaper than what basic foods like bread cost in Britain.
> What's "IIRC"?
IIRC = If I recall correctly.
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