Thaiyotakamli Supersonic May 1, 2014 Share May 1, 2014 China mode on, Dont play play hor, we need change master soon liao.http://m.ft.com/cms/s/0/d79ffff8-cfb7-11e3-9b2b-00144feabdc0.htmlChina to pass US as largest economyBy Chris Giles, Economics EditorThe US is on the brink of losing its status as the worlds largest economy, and is likely to slip behind China this year, sooner than widely anticipated, according to the worlds leading statistical agencies.The US has been the global leader since overtaking the UK in 1872. Most economists previously thought China would pull ahead in 2019.The figures, compiled by the International Comparison Program hosted by the World Bank, are the most authoritative estimates of what money can buy in different countries and are used by most public and private sector organisations, such as the International Monetary Fund. This is the first time they have been updated since 2005.After extensive research on the prices of goods and services, the ICP concluded that money goes further in poorer countries than it previously thought, prompting it to increase the relative size of emerging market economies.The estimates of the real cost of living, known as purchasing power parity or PPPs, are recognised as the best way to compare the size of economies rather than using volatile exchange rates, which rarely reflect the true cost of goods and services: on this measure the IMF put US GDP in 2012 at $16.2tn, and Chinas at $8.2tn.In 2005, the ICP thought Chinas economy was less than half the size of the US, accounting for only 43 per cent of Americas total. Because of the new methodology and the fact that Chinas economy has grown much more quickly the research placed Chinas GDP at 87 per cent of the US in 2011.For 2011, the report says: The US remained the worlds largest economy, but it was closely followed by China when measured using PPPs.With the IMF expecting Chinas economy to have grown 24 per cent between 2011 and 2014 while the US is expected to expand only 7.6 per cent, China is likely to overtake the US this year.The figures revolutionise the picture of the worlds economic landscape, boosting the importance of large middle-income countries. India becomes the third-largest economy having previously been in tenth place. The size of its economy almost doubled from 19 per cent of the US in 2005 to 37 per cent in 2011.Russia, Brazil, Indonesia and Mexico make the top 12 in the global table. In contrast, high costs and lower growth push the UK and Japan further behind the US than in the 2005 tables while Germany improved its relative position a little and Italy remained the same.The findings will intensify arguments about control over global international organisations such as the World Bank and IMF, which are increasingly out of line with the balance of global economic power.When looking at the actual consumption per head, the report found the new methodology as well as faster growth in poor countries have greatly reduced the gap between rich and poor, suggesting that the world has become more equal.The worlds rich countries still account for 50 per cent of global GDP while containing only 17 per cent of the worlds population.Having compared the actual cost of living in different countries, the report also found that the four most expensive countries to live in are Switzerland, Norway, Bermuda and Australia, with the cheapest being Egypt, Pakistan, Myanmar and Ethiopia. ↡ Advertisement Link to post Share on other sites More sharing options...
Wt_know Supersonic May 1, 2014 Share May 1, 2014 (edited) PRC FTW it's quite ironic ... a. china is the factory of the world .... people treat china lowly for their cheap labour b. the chinese is the biggest spender in the world ... they buy everything almost everything .... from branded luxury items to corporate building/company to vineyard to castle retail manager bow to chinese tourist for their generous purchase ... on time buy ... give me 10 LV or Rolex ... actually upgrade to Hermes and Patek liao Edited May 1, 2014 by Wt_know Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic May 2, 2014 Author Share May 2, 2014 PRC FTW it's quite ironic ... a. china is the factory of the world .... people treat china lowly for their cheap labour b. the chinese is the biggest spender in the world ... they buy everything almost everything .... from branded luxury items to corporate building/company to vineyard to castle retail manager bow to chinese tourist for their generous purchase ... on time buy ... give me 10 LV or Rolex ... actually upgrade to Hermes and Patek liao That explains their behavior of I own the world lol 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic May 2, 2014 Share May 2, 2014 (edited) yes, the PRC told the Hkee if PRC tourist don't come to HK ... Hkee eat shit (retail economy will collapse) instead of PRC tourist shit on the street That explains their behavior of I own the world lol Edited May 2, 2014 by Wt_know Link to post Share on other sites More sharing options...
Baal Supersonic May 2, 2014 Share May 2, 2014 PRC FTW it's quite ironic ... a. china is the factory of the world .... people treat china lowly for their cheap labour b. the chinese is the biggest spender in the world ... they buy everything almost everything .... from branded luxury items to corporate building/company to vineyard to castle retail manager bow to chinese tourist for their generous purchase ... on time buy ... give me 10 LV or Rolex ... actually upgrade to Hermes and Patek liao Sibei Jialat liao. - Now they will say they were right that having tons of people is the way to growth. - Cheaper is the right way as China has shown. - World #1 is now communist. Ally Russia aint that democratic either, rather the opposite. Frankly, if I am forced into a corner & made to choose between AN, Tiong, PN. I will choose PN. Link to post Share on other sites More sharing options...
Roh96 6th Gear May 2, 2014 Share May 2, 2014 How is this going to affect us? Lesser ah toing will come here to work since their economy should provide more opportunity? Link to post Share on other sites More sharing options...
Wt_know Supersonic May 2, 2014 Share May 2, 2014 nope ... AT asking for eXpat package now ... How is this going to affect us? Lesser ah toing will come here to work since their economy should provide more opportunity? Link to post Share on other sites More sharing options...
Rncw 5th Gear May 2, 2014 Share May 2, 2014 oh no...does that means ATBs more expensive to keep now???? addicted to their cheesepies... 1 Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic May 2, 2014 Author Share May 2, 2014 oh no...does that means ATBs more expensive to keep now???? addicted to their cheesepies... Expect in the rise of price ATB lol How is this going to affect us? Lesser ah toing will come here to work since their economy should provide more opportunity? It will affect us, now we need to bootlick them to keep our economy healthy yes, the PRC told the Hkee if PRC tourist don't come to HK ... Hkee eat shit (retail economy will collapse) instead of PRC tourist shit on the street This is somehow true, almost 90% of hk business was supported by chinese tourists, about 20-30 million annually, if come to sg sure sg not enough space to walk. 1 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic May 2, 2014 Share May 2, 2014 How is this going to affect us? Lesser ah toing will come here to work since their economy should provide more opportunity? Be prepare to see more chinaman coming here to do business, or taking over our business, since they want to spread their wealth overseas. And be prepare to work under them, or compete with them on jobs available... 1 Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic May 2, 2014 Author Share May 2, 2014 Be prepare to see more chinaman coming here to do business, or taking over our business, since they want to spread their wealth overseas. And be prepare to work under them, or compete with them on jobs available... Yah next time the chinese companies come sg, they send their people and become ur boss liao. Link to post Share on other sites More sharing options...
Wt_know Supersonic May 2, 2014 Share May 2, 2014 simi be prepare ... already happening liao just how big the conquer Be prepare to see more chinaman coming here to do business, or taking over our business, since they want to spread their wealth overseas. And be prepare to work under them, or compete with them on jobs available... 1 Link to post Share on other sites More sharing options...
Albeniz Turbocharged May 2, 2014 Share May 2, 2014 (edited) Yah next time the chinese companies come sg, they send their people and become ur boss liao.When I was small, my mother only told me to study hard or I would end up as a road sweeper. My mother did not warn me about this. Edited May 2, 2014 by Albeniz Link to post Share on other sites More sharing options...
Ktglfc Hypersonic May 2, 2014 Share May 2, 2014 We help them with the suzhou park and let their officials come here to study us... and then they return us the favour by coming in to vie for business. They have bid high for parcels of land for condo, and jack up the condo prices. What lao er, earn more money to bring back china. Indirectly, we are supporting their millionaires, and billionaires, while our countryman suffers with high inflation, high cost, etc. Bo-tan ! 2 Link to post Share on other sites More sharing options...
Kangadrool Supersonic May 2, 2014 Share May 2, 2014 As some had already mentioned here, they will be taking up higher level jobs and not manual work. In fact, the pay for construction workers in main cities of China is about the same as what they get paid here, not much diff. How is this going to affect us? Lesser ah toing will come here to work since their economy should provide more opportunity? Link to post Share on other sites More sharing options...
Icedbs Turbocharged May 2, 2014 Share May 2, 2014 (edited) nope ... AT asking for eXpat package now ... already happening in many companies here Edited May 2, 2014 by Icedbs Link to post Share on other sites More sharing options...
Scion Turbocharged May 2, 2014 Share May 2, 2014 well... not surprising... China was the leading economy until Emperor Qian Long reign, and replaced by the British Empire The sun at the empire where "the sun never set" did set in the end Link to post Share on other sites More sharing options...
Roh96 6th Gear May 2, 2014 Share May 2, 2014 This sounds scary, AT coming here to be boss, be expat, be king. And to think our leaders still trying to act smart, teach them how to set up and manage tech park? If my AT co-workers see this article, they going to lift their heads high, talk louder. ↡ Advertisement Link to post Share on other sites More sharing options...
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