Chinese Economics Thread

solarz

Brigadier
The revealing thing about this list, especially the PPP one, is that numerous countries which are rarely mentioned as large economies are quite high up on the list. Indonesia, Mexico, Iran, Nigeria, Argentina, Pakistan, and the Philippines all have larger economies in PPP terms than much ballyhooed South Africa.

The thing is, PPP is a comparison of domestic consumption capabilities, or average standard of living, while raw GDP is a comparison of economic strength between nations. Two completely different measures that should not be confused with each other.
 

SamuraiBlue

Captain
Yes...this is true.

For decades now most nations have played what I believe to ultimately be a foolish and dangerous game with fiat currencies with little or no hard currency backing.
This actually is not totally true since the US dollars was and still is in most part the only recognized transaction currency of oil being the only currency accepted by OPEC nations. So the dollar is basically backed up by crude oil.This is also the main reason why the US meddles with Mid-East policies and events.
Unfortunately the so called "Carbon Society" is shifting over to Hydrogen and will probably be making a transition in the latter half of this century. This is going to bring disorder since Hydrogen can be acquired anywhere as long as you are close to a large body of water.
My personal belief the reason why the price of oil is sagging is because some nations had started a fire sale trying to gain profit while they still can.
 

SamuraiBlue

Captain
OT. Hydrogen can be produced now from leftover stalks, cobs, and husks of corn. The technology exists now to produce much more cheaply than before and with better quality of hydrogen, thanks to renowned Dr Percival Zhang of VT.

Yeah, I read that news on phys.org but that was not the reason for disorder I was talking about.
I'm worried about what Jeff posted, no backing.
With the quasi oil standard we knew relatively what was worth what but with that gone how are we going to measure price of a product without a standard measure?
Fiat money with no backing is as Jeff suggested a very volatile state to the global economy which may result to military conflicts.
 

montyp165

Senior Member
Yeah, I read that news on phys.org but that was not the reason for disorder I was talking about.
I'm worried about what Jeff posted, no backing.
With the quasi oil standard we knew relatively what was worth what but with that gone how are we going to measure price of a product without a standard measure?
Fiat money with no backing is as Jeff suggested a very volatile state to the global economy which may result to military conflicts.

Economic valuation with hydrogen would best be done by measuring the amount of usable energy of a fixed volume of hydrogen and using that as a standard, at the very least it would be a useable universal measure for currencies to handle exchanges with.
 

SamuraiBlue

Captain
Economic valuation with hydrogen would best be done by measuring the amount of usable energy of a fixed volume of hydrogen and using that as a standard, at the very least it would be a useable universal measure for currencies to handle exchanges with.

That is one possibility, unfortunately if most nations are able to generate their own Hydrogen fuel then an international trade market would not be required where a standard index would be formed. No international trade market, no global standard.
Production cost would also vary depending on the level of industrialization and level of technology making an uneven ground for pricing of Hydrogen at the global level.
(The bankers wouldn't like it either.LoL)
 
That is one possibility, unfortunately if most nations are able to generate their own Hydrogen fuel then an international trade market would not be required where a standard index would be formed. No international trade market, no global standard.
Production cost would also vary depending on the level of industrialization and level of technology making an uneven ground for pricing of Hydrogen at the global level.
(The bankers wouldn't like it either.LoL)

Then perhaps GDP and PPP will be more co-mingled, not necessarily a bad thing. A new international financial and trade model will be needed, which does not necessarily lead to conflict either.

Maybe that will mark another phase in societal evolution. Warriors, priests, politicians, and most recently traders have took turns being the most influential class/role/function within and among societies. Maybe another class/role/function will take their turn, scientists and engineers?
 

Franklin

Captain
The US is putting pressure on Japan about the AIIB.

U.S. questions Japan about stance on China-led bank

The United States has questioned Japan about the possibility it might participate in China’s initiative to set up a regional development bank, sources familiar with bilateral relations said Friday.

In the wake of a Financial Times report at the end of March that said Japan “is likely to join the Asian Infrastructure Investment Bank within a few months,” in a move it said “would see Tokyo break ranks with Washington,” the U.S. has grown suspicious about Japan and asked whether the report is true, the sources said.

The development shows that Washington’s concern is growing since major allies including Britain, Australia and South Korea filed applications to become “founding members” of the AIIB before China’s March 31 deadline for countries and territories.

In response to the U.S. inquiry, Tokyo explained that the report was “inaccurate” and said it “does not have a specific time frame” in mind, as suggested by the report, the sources said, adding that Washington eventually accepted the explanation.

A government source said the report, based on a Financial Times interview with Japanese Ambassador to China Masato Kitera, was “a deliberate attempt to drive a wedge into the firm relations between Japan and the United States.”

On March 31, Chief Cabinet Secretary Yoshihide Suga dismissed the report as “completely inaccurate.”

Foreign Minister Fumio Kishida said, “It is not true that Ambassador Kitera made a forecast about Japan’s AIIB participation.”

Underscoring Japan’s cautious position on the new bank, which China has pledged to launch by the end of the year, Prime Minister Shinzo Abe said on March 31 that “There is no need to participate hastily.”

“The United States now knows that Japan is trustworthy,” Abe told a meeting of the ruling Liberal Democratic Party, especially when Britain and other European members of the Group of Seven industrialized nations expressed their intention to join the AIIB.

While more than 50 countries and territories have signed up to join the institution, Japan — together with the United States — has decided to stay out of it, citing concern over the opaqueness of AIIB governance standards and its screening process for loans.

Because some see the AIIB as a challenge to the World Bank and Asian Development Bank, which are traditionally led by the United States and Japan, respectively, how the two allies will deal with the new multilateral bank is expected to be on the agenda for Abe’s visit to the United States on April 26.

While publicly expressing caution, an internal government document obtained by Kyodo News showed that Japan has not yet ruled out the possibility of joining the AIIB, and would contribute up to $1.5 billion in the event that it does.

The document also said Japan — in close coordination with the United States — will continue to urge China to ensure fair governance and transparent management of the institution “from outside.”

“The government is conducting various studies, but our country maintains a cautious stance about participation in the AIIB,” Suga, the top government spokesman, told reporters in Tokyo on Thursday.

“In coordination with relevant countries, (Japan) has been urging China that the AIIB meet standards suitable for so-called international financial institutions, which we believe is naturally necessary,” he said.

Please, Log in or Register to view URLs content!
 

Silvestre

Junior Member
Registered Member
Interesting data regarding GDP can be found at:

Please, Log in or Register to view URLs content!


Here is a screen shot:
cOTPg30.png



Back to bottling my Grenache

Good with 15 countries over 1 trillion Dollar with last five of Canada, Australia, Korea, Spain and Mexico. Turkey and Indonesia just under 1 trillion in brutto national product. Plus Netherlands, Suiss and Saudi Arabia in top-20.

Edit1. Big four in top-4 are USA, China, Japan and Germany over 3.5 trillion dollar.
 
Top