Friday, February 15, 2008
[IWS] CRS: HOW LARGE is CHINA's ECONOMY? DOES IT MATTER? [13 February 2008]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Research Service (CRS)
Order Code RS22808
February 13, 2008
How Large is China's Economy? Does it Matter?
Wayne M. Morrison and Michael F. Martin, Foreign Affairs, Defense, and Trade Division
http://assets.opencrs.com/rpts/RS22808_20080213.pdf
[full-text, 6 pages]
Summary
China's rapid economic growth since 1979 has transformed it into a major
economic power. Over the past few years, many analysts have contended that China
could soon overtake the United States to become the world's largest economy, based on
estimates of China's economy on a "purchasing power parity" (PPP) basis, which
attempts to factor in price differences across countries when estimating the size of a
foreign economy in U.S. dollars. However, in December 2007, the World Bank issued
a study that lowered its previous 2005 PPP estimate of the size of China's economy by
40%. If these new estimates are accurate, it will likely be many years before China's
economy reaches U.S. levels. The new PPP data could also have an impact on U.S. and
international perceptions over other aspects of China's economy, including its living
standards, poverty levels, and government expenditures, such as on the military. This
report will not be updated.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Research Service (CRS)
Order Code RS22808
February 13, 2008
How Large is China's Economy? Does it Matter?
Wayne M. Morrison and Michael F. Martin, Foreign Affairs, Defense, and Trade Division
http://assets.opencrs.com/rpts/RS22808_20080213.pdf
[full-text, 6 pages]
Summary
China's rapid economic growth since 1979 has transformed it into a major
economic power. Over the past few years, many analysts have contended that China
could soon overtake the United States to become the world's largest economy, based on
estimates of China's economy on a "purchasing power parity" (PPP) basis, which
attempts to factor in price differences across countries when estimating the size of a
foreign economy in U.S. dollars. However, in December 2007, the World Bank issued
a study that lowered its previous 2005 PPP estimate of the size of China's economy by
40%. If these new estimates are accurate, it will likely be many years before China's
economy reaches U.S. levels. The new PPP data could also have an impact on U.S. and
international perceptions over other aspects of China's economy, including its living
standards, poverty levels, and government expenditures, such as on the military. This
report will not be updated.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 12:55 PM
