[Serious] When will China exceed the US in aggregate nominal GDP?

[MOBIUS]

Yes, as a global society we are still completely blind to the impending upheavals that will soon unfold.

It used to really piss me off, but now I've found a curious sense of peace now that I've decided to accept that when it comes to preserving the planet as best we can for our future comfort, the overwhelming majority of our species can't help themselves from grabbing greedily at the last scraps on the table and thus fulfilling the prophecy of our doom...

And for what? When our consumerist societies have us brainwashed into never being satisfied with what we have and to constantly want more, more, MORE!!!

It reminds me of the fable about the scorpion asking the frog for a lift over the river - instinctively (the minority of us that are even enlightened enough to realise what's happening!) we realise what we are doing is wrong and yet we still can't help ourselves!

[Tupac Shakur]

Jesus, this thread is chock-full of ***** now.

[KrazyHorse]

there's simply no way for our planet to sustain a China having a larger aggregate GDP than the US

What utter nonsense.

There's no way for the world to sustain China to have the same GDP as the US with current technology, capital, organizational structure and human capital.

Luckily, all of those things are endogenous.

I, for one, look forward to the day when the market for my services has tripled due to continued Chinese development

[KrazyHorse]

It's literally becoming painful to read danny-boy's posts in this thread.

All this could have been avoided if you'd just admitted that you missed "nominal" in the thread title...

[KrazyHorse]

Your line 2) gives you nominal GDP adjusted for PPP.

There's no ****ing thing as "real GDP" at one moment in time for one country (set of consumers, if you want to be technical), you goddamn ****ing idiot. You can pick whatever ****ing numeraire you want. There is no magic unit that makes that number "real". "Real" tells you about comparisons across times, or if you abuse the terminology slightly, across countries.

When you specify "nominal" when asking a question at a single moment in time across countries you are asking a question about domestic value times market exchange rates.

For example, you utter ****ing ****:

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

compared to

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

When you ask a question about "nominal" GDP across times in a single country, on the other hand, you are simply measuring in current currency.

"Nominal" has related yet separate meanings depending on the context, as anybody with a brain in their head who has read ANYTHING about macro knows.

Now give up and go away, you complete ****ing ******.

[KrazyHorse]

This is like talking to a two year-old

[Traianvs]

Jesus, this thread is chock-full of ***** now.

At exactly the moment you joined in! What a coincidence!

[Traianvs]

What utter nonsense.

There's no way for the world to sustain China to have the same GDP as the US with current technology, capital, organizational structure and human capital.

Luckily, all of those things are endogenous.

I, for one, look forward to the day when the market for my services has tripled due to continued Chinese development

Now it's you spouting nonsense.

Sure enough, the Chinese should and will develop. I just don't think it's a good idea for them to do it like people in the west have done it.

After all, you do agree that we can't afford another few billion Americans on our planet (I'm including people from a few other emerging markets here of course), don't you?

Or, I take it, you are one of those who believes a magical technological breakthrough will somehow solve our energy and resource problems, yes?

[dannubis]

There's no ****ing thing as "real GDP" at one moment in time for one country (set of consumers, if you want to be technical), you goddamn ****ing idiot. You can pick whatever ****ing numeraire you want. There is no magic unit that makes that number "real". "Real" tells you about comparisons across times, or if you abuse the terminology slightly, across countries.

When you specify "nominal" when asking a question at a single moment in time across countries you are asking a question about domestic value times market exchange rates.

For example, you utter ****ing ****:

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

compared to

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

When you ask a question about "nominal" GDP across times in a single country, on the other hand, you are simply measuring in current currency.

"Nominal" has related yet separate meanings depending on the context, as anybody with a brain in their head who has read ANYTHING about macro knows.

Now give up and go away, you complete ****ing ******.

Hey, **** for brains, are you authistic or something? Stop replying to issues I don't even bring up.

Look here to have an idea of what I am talking about:

http://forums.imf.org/showthread.php?t=109

Running into an empty room and dropping your pants while shouting at the bewildered cat to suck your dick is something most of us none - sociopaths consider to be strange.

[Elok]

At exactly the moment you joined in! What a coincidence!

Tangent, but I've been looking for a Belgian to ask this: do you guys actually regard Leopold II with some level of reverence, as Wikipedia suggests? He's on a Euro coin and everything, and AFAICT the big difference between him and Hitler is that Leopold only did it for the money.

[dannubis]

On the Belgian EURO coins the current King, Albert II, is depicted.

Leopold II is very contested. In my opinion you are 100% correct about him. Others might disagree, but general consensus is that during his reign over Congo terrible things happened down there.

[Kidlicious]

What utter nonsense.

There's no way for the world to sustain China to have the same GDP as the US with current technology, capital, organizational structure and human capital.

Luckily, all of those things are endogenous.

I, for one, look forward to the day when the market for my services has tripled due to continued Chinese development

Oh, yea that' why the economies of the industrialized nations are growing so fast.

You're getting more retarded with every post.

[Elok]

On the Belgian EURO coins the current King, Albert II, is depicted.

Leopold II is very contested. In my opinion you are 100% correct about him. Others might disagree, but general consensus is that during his reign over Congo terrible things happened down there.

Not the current Euro coin, but a commemorative coin struck in 2007, worth 12.5 Euros:
This one.

EDIT: It just occurred to me that, while he's not as bad as Leo 2, Andrew Jackson was pretty nasty to the Cherokee, and he's on our $20 bill. So it's not like I'm throwing stones here.

[DanS]

2018 is pretty silly because even if the US economy were to stop growing, China would have to grow at 14% a year to overcome the US by then. Unless you think the US is on the verge of collapse?

Keep in mind that the Yuan may appreciate in relation to the Dollar during that time period...

[Dauphin]

This is like talking to a two year-old

Please don't belittle my niece. Wanker.