China Moves to No. 4 in GDP Rankings--(leapfrogs Italy, France, UK)

[Gloria]

3//Xinhua Online, China 2005-12-14 09:02:24

http://news.xinhuanet.com/english/2005-12/14/content_3919248.htm



CHINA MOVES TO NO. 4 IN GDP RANKINGS



BEIJING, Dec. 14 -- China is likely to declare itself the world's fourth largest economy next week, having leapfrogged Italy, France and Britain, helped by a likely huge revision of its gross domestic product figures.



Economists say the National Bureau of Statistics (NBS), which is due to release part of the results of its first national economic census on Dec. 20, is likely to put a much bigger figure on the size of China's services sector.



The South China Morning Post, citing unnamed economists, reported on Tuesday that the agency would probably revise GDP by as much as $300 billion, or about 20 percent of 2004 output.



A revision of that magnitude could catapult China from the world's seventh-largest economy into fourth spot, now occupied by Britain.



Jim O'Neill, chief global economist at Goldman Sachs in London, said China could attain that status even without such a big revision based on growth rates and currency changes in 2005.

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[msongs]

1. china well on the way to destroying the US economy as well...

just this week in the LA Times:

China passes the US in sales of computer/entertainment/electronics equiptment

US surfboard foam maker closes, cites competition from China and SE asia (makes
surboard blanks,the foamcore centers around which surfboards are constructed)

cowabunga, dude, bummer.

and who owns most of the paper financing the republican's history making national debt?



Msongs
www.msongs.com/political-shirts.htm

[Jamison]

2. Yep, China is soon to be #1. n/t

[lovuian]

3. Its really the Karma that will come from this on the Republicans

a Great Depression is in the works...

[muriel_volestrangler]

4. It's already second, when measured by Purchasing Power Parity

http://www.cia.gov/cia/publications/factbook/rankorder/2001rank.html

which isn't that surprising, given how large a country it is. GDP using PPP, although it's an estimate (and is less accurate when comparing countries with significantly different standards of living, such as the US and China), is still a better measure of relative productivity than GDP using official exchange rates - and shows where you'd expect the exchange rates to head in the long term.

[AlecBGreen]

5. I am currently living in China ...

and I can tell you without a doubt that this country is going full speed ahead. They are HUNGRY and will not be satisfied until they are the worlds #1 superpower. From the lowliest streetsweepers to the heads of the NCP, every Chinese person realizes now is there time. Im not kidding...America needs to get its apathetic head out of its ass and wake up...these guys are for real. We need to invest in 1) education 2) infrastructure and 3) high tech/information service technology NOW if we want to stay on top.

-Alec

[psychopomp]

7. I live in Japan

and most Japanese expect China to blow their good fortune in the near future. I suppose it is because they blew their good fortune (the bubble) and think they are, if nothing else, more capable than their neighbors.

I do not think China's trajectory will continue in its current manner forever; political problems will likely trip them up eventually.

[jsamuel]

6. Why do you think all of our major companies are bailing out of the US?

The are becoming "multi-national" now so they can benefit from the NWO of economics. traitors...