Arthur Kroeber |
Radio Free Asia:
But others say it shouldn't come as a surprise that China would soon overtake the U.S. in sheer economic size.More in Radio Free Asia.
"If one doesn’t accept the current PPP conversion rate, then just wait five or ten years and China will be bigger at market exchange rates," said Arthur Kroeber, Managing Director of GaveKal Dragonomics, an independent global economic research firm, and Editor of its journal, China Economic Quarterly.
"But basically, all that this shift tells us is that China has way more people than the U.S.— 4.2 times as many, to be exact. So, as soon as China stopped being fantastically poorer (per capita) than the U.S., and became simply a lot poorer, its total economy surpassed that of the U.S."
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