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

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

Crowning the dragon – shared by LSi Media http://www.lsi-media.com

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……….

to read more click http://econ.st/1iAn4Ri

Original Article by:

Crowning the dragon

2014-05-05T11:46:38+00:00

About the Author:

Idris Grant

Mr. Grant is a seasoned technology Entrepreneur who is currently a member of several different executive teams and sits on the board of several companies. He currently holds the position of President for National Association of Sales Professionals, an association offering sales training, sales jobs, a feature-rich social networking platform and industry changing certification/training programs. He is also the co-founder of LSi Media LLC. LSi Media provides website development, internet marketing, and media development services to small business startups.