Apparently, at least one of the columnists at the Washington Post reads this blog. Sebastian Mallaby, a veteran from the Economist and contributor to Foreign Affairs, Foreign Policy, Prospect, the National Interest, the New York Times, Policy Review, Slate and the New Republic, and specializing in globalization, trade, investment trends, international development and economic … [Read more...] about Something to chuckle about #2
In 2002, the GDP of China was 10.2 trillion yuan, and the GDP of the US was 10.6 trillion US dollar. At the year-end exchange rate, China's GDP was 11.7% of the US'. In 2007, the GDP of China was 24.7 trillion yuan, and the GDP of the US was 14.0 trillion US dollar. At the end-end exchange rate, China's GDP was 24.0% of the US'. If we assume the relative paces of the … [Read more...] about (Letter) How fast China can catch up the US in GDP? It may be faster than you think.
Today's Xinhua article brings to our attention that China's forex reserves have ballooned to $1.76 trillion as of the end of April. To put this number in perspective: it is about 15% of the US annual economic output. Before people get carried away, allow me to explain what the forex reserves is not: it is definitely not the government's money, so there is no sense in talking … [Read more...] about China's forex reserves larger than those of G7 combined