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January 16, 2012

Is China Now Number One?

At Seeking Alpha, Scott Sumner writes:

A few years ago the World Bank estimated the Chinese cost of living to be only 1/3 of US levels. Then they re-did the computation and found the ratio was 1/2. Even at that ratio China would have a larger economy than the US right now, even without including Hong Kong. Indeed that would still be true if we assumed the Taiwanese price level also applied to China.

Read more: http://seekingalpha.com/article/319644-is-china-now-number-one?ifp=0&source=email_the_daily_dispatch

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