The news is abuzz with China's recent stock market crash. The naysayers are all coming out. Not that they were ever hiding, but now it's a parade - with horns and drums to toot! Some reports are however darn right silly. For example in this CNBS report titled How China might have given itself a black eye, a reporter would first accuse China of committing the sin of … [Read more...] about So China is Doomed Because of a 30% market crash … ?
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.