{"id":16806,"date":"2014-05-07T05:07:21","date_gmt":"2014-05-07T03:07:21","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=16806"},"modified":"2014-05-07T05:07:21","modified_gmt":"2014-05-07T03:07:21","slug":"how-big-is-the-chinese-economy-compared-to-the-us","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/how-big-is-the-chinese-economy-compared-to-the-us\/","title":{"rendered":"How Big is the Chinese Economy, Compared to the US?"},"content":{"rendered":"<p>Jeffrey Frankel <a href=\"http:\/\/www.project-syndicate.org\/commentary\/jeffrey-frankel-pours-cold-water-on-the-claim-that-the-us-economy-has-been-surpassed\" target=\"_blank\">writes<\/a>: \u00a0When we talk about an economy\u2019s size or power, we are talking about a broad range of questions \u2013 and a broad range of interlocutors. From the viewpoint of multinational corporations, how big is the Chinese market? From the viewpoint of global financial markets, will the RMB challenge the dollar as an international currency? From the viewpoint of the International Monetary Fund and other multilateral agencies, how much money can China contribute, and how much voting power should it get in return? From the viewpoint of countries with rival claims in the South China Sea, how many ships can its military buy?<br \/>\nFor these questions, and most others involving total economic heft, the indicator to use is GDP at market exchange rates, because what we want to know is how much the renminbi can buy on world markets, not how many haircuts or other local goods it can buy back home. And the answer to that question is that China can buy more than any other country in the world \u2013 except the US.<\/p>\n<p style=\"text-align: center\"><a href=\"http:\/\/www.w-t-w.org\/en\/how-big-is-the-chinese-economy-compared-to-the-us\/us-v-china\/\" target=\"_blank\" rel=\"attachment wp-att-16807\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-16807\" src=\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/05\/US-v-China-300x135.jpg\" alt=\"US v China\" width=\"300\" height=\"135\" srcset=\"https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/05\/US-v-China-300x135.jpg 300w, https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/05\/US-v-China-1024x463.jpg 1024w, https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/05\/US-v-China-500x226.jpg 500w, https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/05\/US-v-China.jpg 1133w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jeffrey Frankel writes: \u00a0When we talk about an economy\u2019s size or power, we are talking about a broad range of questions \u2013 and a broad range of interlocutors. From the viewpoint of multinational corporations, how big is the Chinese market? &hellip; <a href=\"https:\/\/www.w-t-w.org\/en\/how-big-is-the-chinese-economy-compared-to-the-us\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-16806","post","type-post","status-publish","format-standard","hentry","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Jeffrey Frankel writes: When we talk about an economy\u2019s size or power, we are talking about a broad range of questions \u2013 and a broad range of interlocutors. From the viewpoint of multinational corporations, how big is the Chinese market? 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