China Passes Japan as Second-Largest Economy

[mab]

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Soource:China Passes Japan as Second-Largest Economy - Yahoo! Finance

[Mr. BrokenHearted]

wow kuyawa china oh grabeha dah hehehe

[Javaman]

china...about 4 trillion USD economy. US is still far ahead, about 14 trillion

[Tirong-say]

Bitaw, halos tanang mga produkto karon puro na made in China. Nalupig gyud ang quality sa quantity.

[RMK711]

china...about 4 trillion USD economy. US is still far ahead, about 14 trillion

What about debt?

[ian_1983]

Soource:China Passes Japan as Second-Largest Economy - Yahoo! Finance

GDP alone is not a true measure for a nations economic health, GDP Per Capita is a more reliable measure for determining the economic state of a nation. It always takes into account the true reflection of such economic health into an individual citizens perspective.

China may have a very high GDP but the standard of living is rather low because of the nations extremely large population, In contrast, a small country like Luxembourg, Switzerland with its not so impressive GDP will rank as one of the highest GDP per capita because of its small population. Life in such country is much more rewarding indeed — as clearly indicated by its GDP per capita.

The Philippines for instance earnmarked a GDP growth of almost 8% for 2008, the highest in 20 yrs, and again growing to a high of 7% for the 1st quarter of this year 2010. But the key question is did it help alleviate the standard of living of each individual citizen? Clearly the answer is NO...about 44 per cent or over 40 million Filipinos were still living on less than US$2 a day and at least 83% of the population is still poor.

In summary a country with high GDP but with an overwhelmingly large population will result in a low GDP per capita; thus indicating a not so favorable standard of living since each citizen would only get a very small amount when wealth is being evenly distributed. A high GDP per capita, on the other hand, simply means that a nation has a more efficient economy

[RMK711]

^ Have you been to China? In their major cities, they already have a pretty high standard of living. At least much higher compared to here. If you add up all their large cities, eg Beijing Shanghai, Shenzen etc you already have a formidable market. Another thing to bear in mind is that China has practically no national debt, hence their GDP is pure growth as opposed to borrowed growth, and thus more stable and immune from the wild swings heavily indebted nations like U.S. and Philippines experience.

Population is always an issue and possibly the main reason why we are so poor. China's one-child policy has begun to show results and in the future will prove even more clearly that population control is the fastest way to improve living standards. I just wish that our policymakers would see this, they just have to visit China to prove that this is the only way forward.

[samamar21]

at the end china will end!

[FAQ]

^ Have you been to China? In their major cities, they already have a pretty high standard of living. At least much higher compared to here. If you add up all their large cities, eg Beijing Shanghai, Shenzen etc you already have a formidable market. Another thing to bear in mind is that China has practically no national debt, hence their GDP is pure growth as opposed to borrowed growth, and thus more stable and immune from the wild swings heavily indebted nations like U.S. and Philippines experience.

Population is always an issue and possibly the main reason why we are so poor. China's one-child policy has begun to show results and in the future will prove even more clearly that population control is the fastest way to improve living standards. I just wish that our policymakers would see this, they just have to visit China to prove that this is the only way forward.

Bro, if you been to Beijing, Shanghai, Shenzen, or whatever communist city, it is just an illusion that they have a HIGH STANDARD OF LIVING. These cities doesn't give the real vision of China! I guess you haven't been to its outskirts, towns, and villages where their people are very poor and nothing because of the fact they don't have rights as much as we do. Chinese people are stressing themselves over a $1/day job. Is that what you call a high standard of living? Hmmm...

And you seem very supportive on China's one-child policy and their type of government. I suggest that you should immigrate there.

[RMK711]

Bro, if you been to Beijing, Shanghai, Shenzen, or whatever communist city, it is just an illusion that they have a HIGH STANDARD OF LIVING. These cities doesn't give the real vision of China! I guess you haven't been to its outskirts, towns, and villages where their people are very poor and nothing because of the fact they don't have rights as much as we do. Chinese people are stressing themselves over a $1/day job. Is that what you call a high standard of living? Hmmm...

And you seem very supportive on China's one-child policy and their type of government. I suggest that you should immigrate there.

If I were an ordinary person living on minimum wage here given the same level of education and qualifications of city-dwellers here then I would immigrate to China and live there. That would be the logical thing to do as they earn more and live better in cities. I was not mentioning the outskirts, towns and villages because I was only discussing standard of living in the cities.

You wanna talk about the outskirts there then let's compare with poor provinces here like Maguindanao. Let's compare apples to apples and oranges to oranges... My statement was that people living in major cities in China have a very high standard of living. And your counterpoint is that it's an illusion because people in the countryside earn $1 a day? Erm... I was talking about people living in cities not in the farms.. it's not that I don't care about those people, but just that I was not talking about them in the first place?

But still, even if we were to consider the rural area, this is a well-known problem not only to you and me, but to their government as well. They are already focusing their attention on spreading the wealth to the provinces. I wish I can say the same thing here. But I think the number of unfinished or poorly built farm to market roads and the sorry state of our farmers speak for themselves.

China has many problems and I being part-Chinese myself I also want them to be a democracy some day. But I won't deny them theirs successes as well. As to one-child policy, it sounds bad but what's worse is if people are free to have 10 kids but not obligated to feed them as is what's happening here. I dunno man, nothing in this world is simple. To you maybe it's draconian, but to a country with billions of people to feed, maybe it's apt. I'm not going to live in China just because I agree with a single policy they have. And I'm not going to abandon the Philippines just because we have so many problems.