Look out World – Here comes China


Daily chart

Crowning the dragon

China will become the world’s largest economy by the end of the year

UNTIL 1890 China was the world’s largest economy, before America surpassed it. By the end of 2014 China is on track to reclaim its crown. Comparing economic output is tricky: exchange rates get in the way. Simply converting GDP from renminbi to dollars at market rates may not reflect the true cost of living. Bread and beer may be cheaper in one country than another, for example. To account for these differences, economists make adjustments based on a comparable basket of goods and services across the globe, so-called purchasing-power parity (PPP). New data released on April 30th from the International Comparison Programme, a part of the UN, calculated the cost of living in 199 countries in 2011. On this basis, China’s PPP exchange rate is now higher than economists had previously estimated using data from the previous survey in 2005: a whopping 20% higher. So China, which had been forecast to overtake America in 2019 by the IMF, will be crowned the world’s pre-eminent country by the end of this year according to The Economist’s calculations. The American Century ends, and the Pacific Century begins.

Predict when China will overtake America’s GDP on the basis of market exchange rates here

Adv

Thanks Tony for these words of wisdom on Earth Day


Earth Day

Pepper…and Salt

A father is sitting on the couch looking at his son’s report card with great disappointment, saying a few choice words to his son: The son’s answer to his poor performing report card was 100% correct:

 

 

“if your generation doesn’t learn to save the planet, it won’t matter if my generation can’t read or write.”

On this Earth Day, please Save our Land; Save our Sea; Save our Rivers, Lakes and Estuaries. 

 

Make every effort to eliminate the landfilling of waste and natural resources: reuse; recycle; reduce and compost, and most of all, let’s permanently eliminate Regulated, Toxic and Hazardous Wastes that are killing us.

 

It is our earth, which will be inherited by our children and our grandchildren.

Sincerely ABCOV Logo ,
Tony Nocito
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