Psst…Don’t tell anyone but China has the world’s biggest economy (Podcast)
Psst…Don’t tell anyone but China has the world’s biggest economy Podcast – Jeff J Brown – China Rising
Is Western media lying, by saying the US is still Mr. Big and China has years to catch up? No, it’s just that empire wants to always project unsurpassed power and superiority, so it uses measuring sticks that do not portray the real picture.
Source article with all the images and hyperlinks: http://chinarising.puntopress.com/201…
Pictured above: this graph clearly shows that China’s economy surpassed the US in 2014. Other sources say 2013-2015. Either way, the trends are not going to change.
While Western mainstream media likes to rant on about China eventually being the biggest global economy around 2030-2040, the truth is Sinoland already became World Number One in 2015, three long years ago. China surpassed #3 United States in 2014, behind #1 Europe (http://www.economywatch.com/economic-statistics/economic-indicators/GDP_Share_of_World_Total_PPP/2014/), then Sinoland hit the Big Time in 2015, ahead of the EU and the US and has not been looking back since (http://www.economywatch.com/economic-statistics/economic-indicators/GDP_Share_of_World_Total_PPP/2015/).
By 2021, China will have almost one-fifth (20%) of the world’s GDP, while the EU and US will fall down to about 15% each (http://www.economywatch.com/economic-statistics/economic-indicators/GDP_Share_of_World_Total_PPP/2021/).
So, is Western media lying, by saying the US is still Mr. Big and China has years to catch up? No, it’s just that empire wants to always project unsurpassed power and superiority, so it uses measuring sticks that do not portray the real picture.
The West uses GDP comparisons based on the current exchange rates between countries. With the US dollar and euro overvalued and currencies like the Chinese renminbi and Russian ruble undervalued, it gives a distorted picture of reality. The only accurate way to calculate comparative GDPs is by using purchasing power parities (PPPs). PPPs take a basket of goods that would be useful around the world, like flour, chicken, soap, clothes, and services, like housing, public buses, photocopies and haircuts, to compare their local costs to average salaries in-country. Clearly, a kilo of chicken in France costs differently than the same portion in Mozambique, not to mention paychecks.