How Reliable Are Chinese Economic Numbers?
GDP is the total value of all the goods and services produced in a country in a year. Purchasing Power Parity (PPP) adjusts the cost of the things people buy for varying exchange rates. The World Bank decided you can apply PPP to GDP. In 2005, on a PPP basis, China would pass the US economy by 2019. Now they have revised the figures and believe that China could surpass the U.S. this year. But are they right? Watch the video to find out.
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