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China Passed Japan Long Ago

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Sunday, 13 February 2011 23:27

Let's hope that this is the last silly article telling us that China has just passed Japan as the world's second largest economy. Using a purchasing power parity measure of GDP, China passed Japan several years ago. Its economy is now more than twice the size of Japan's. Japan is still doing fine, since its per capita GDP continues to rise.

Arghhhhhh, Market Place radio committed the same sin in their morning report.

Comments (1)Add Comment
Which is more important?
written by JL, February 14, 2011 1:42
You have been touting China's PPP for years. Overall and to the country's citizen, which one is more pertinent and relavant to one's well being? His country's PPP or per capita GDP?

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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