Saturday, April 17, 2010

Quote of the day

Dean Baker:
By this measure [Purchasing Power Parity], China's economy is expected to be about $9.5 trillion this year. At its current growth rate, it will pass the size of the U.S. economy in about five years.

However, it is important to note that when China's GDP equals the US's GDP, then the per capita GDP is still roughly 1/4th of the America's because China has roughly 4 times as many people.

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