{"id":152,"date":"2007-12-19T08:00:00","date_gmt":"2007-12-19T16:00:00","guid":{"rendered":"http:\/\/www.nomadicminds.org\/blogs\/2007\/12\/19\/china-shrank\/"},"modified":"2008-01-27T22:38:26","modified_gmt":"2008-01-28T06:38:26","slug":"china-shrank","status":"publish","type":"post","link":"http:\/\/www.nomadicminds.org\/blogs\/2007\/12\/china-shrank\/","title":{"rendered":"China Shrank"},"content":{"rendered":"<p><a href=\"http:\/\/www.nytimes.com\/2007\/12\/09\/opinion\/09sun4.html?ex=1354856400&amp;en=c2838d17ee02f41f&amp;ei=5124&amp;partner=facebook&amp;exprod=facebook\">New York Times reported<\/a> that World Bank has been computing GPD, based on PPP, with 1980&#8217;s prices all the time.  After they have switched to current prices, China&#8217;s GPD  shrank to mere US$6 trillions, instead of US$10 trillions.<\/p>\n<p><a href=\"http:\/\/www.chinadaily.com.cn\/china\/2007-12\/18\/content_6329427.htm\">China Daily<\/a> picked up the same story on December 18th, but the numbers are slightly different.<\/p>\n<p>This is comical.  PPP based GPD, said the article, is preferred by economists.  World Bank is among the most prestigeous economist society.  It is a collosal blunder for World Bank to have used a 25-year-old price basket for GPD computation.  I don&#8217;t really quite understand how can this happens, governments, China included, publish CPI data every year.<\/p>\n<p>Does this mean the USA has lost their ground to pressure China to appreciate RMB faster?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Times reported that World Bank has been computing GPD, based on PPP, with 1980&#8217;s prices all the time. After they have switched to current prices, China&#8217;s GPD shrank to mere US$6 trillions, instead of US$10 trillions. China Daily &hellip; <a href=\"http:\/\/www.nomadicminds.org\/blogs\/2007\/12\/china-shrank\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[77],"tags":[],"_links":{"self":[{"href":"http:\/\/www.nomadicminds.org\/blogs\/wp-json\/wp\/v2\/posts\/152"}],"collection":[{"href":"http:\/\/www.nomadicminds.org\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.nomadicminds.org\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.nomadicminds.org\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.nomadicminds.org\/blogs\/wp-json\/wp\/v2\/comments?post=152"}],"version-history":[{"count":0,"href":"http:\/\/www.nomadicminds.org\/blogs\/wp-json\/wp\/v2\/posts\/152\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.nomadicminds.org\/blogs\/wp-json\/wp\/v2\/media?parent=152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.nomadicminds.org\/blogs\/wp-json\/wp\/v2\/categories?post=152"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.nomadicminds.org\/blogs\/wp-json\/wp\/v2\/tags?post=152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}