Friday, February 18, 2011

China's economy is already larger than the united states

  We already know that in real terms, China is the larger economy. What we are analyzing now is when will the numbers crunch up so that China's economy is larger than the us nominally.


 What Does Nominal Mean?
An unadjusted rate, value or change in value. This type of measure often reflects the current situation, such as the current price of a car, and doesn't make adjustments to reflect factors such as seasonality or inflation, which provide a more accurate measure in real terms.
(of money, income, or the like) measured in an amount rather than in real value: Nominal wages have risen 50 percent, but real wages are down because of inflation.

Definition of REAL

1
: of or relating to fixed, permanent, or immovable things (as lands or tenements)
2
a : not artificial, fraudulent, or illusory : genuine <real gold>; also : being precisely what the name implies <a real professional>

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