Aboutme.profsubin: China Must Have Overtaken US Economy In Purchasing Power Parity
Aboutme.profsubin: China Has Overtaken US Economy In Purchasing Power Parity: Yes, maybe China has overtaken US Economy by purchasing power parity. Due to pandemic, whole global economy has come to an halt, which made China overtaken US Economy in purchasing capacity. Economic Output of IMF has predicted Chinese Economy as the largest economy, now. Chinese PPP is around US$24.2 trillion as compared to USA US$20.8 trillion. Economists has dropped the method used traditionally "Market Exchange Rate" method, which never depicts the real figure. This creates valuation of currencies below par with Dollar. PPP eliminates the differences in price levels and also compares purchasing power of each country that can buy. They came up with Big Mac Index where Dollar can buy not only in China, but can compare what they can buy in USA. In China, Dollar can buy double than Dollar can buy in USA, Confirm. Chinese Production Vs American Production: In 2019, China has produced 99 trillion Yu