Great Interactive Map of China
HTs: Robert Kuehl and Colin Grabow
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Friday, February 25, 2011
HTs: Robert Kuehl and Colin Grabow
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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6 Comments:
Hmmm, I think the real interesting map of the day would be the one courtesy of Zer0Hedge: Visual Atlas Of Distressed Oil Production
Why you may ask...
Well if Reuters knows what its talking about then consider this: Libya oil production to shut down completely-BofA
China's GDP, particularly at PPP, is a limited measure that doesn't truly reflect living standards:
Connecting the Dots Between China’s Falling Consumption Level and Its Banking Crisis
January 22, 2011
As countries become more affluent, consumption tends to rise in relationship to GDP. And the ample evidence of colossally unproductive infrastructure projects in China raises further doubts about the sustainability of the Chinese economic model.
Household consumption has declined over the decade as a share of gross national product from a very low 45 percent at the beginning of the decade to an astonishingly low 36 percent last year.
It now takes $7 of debt to produce $1 of GDP growth...The combination of implicit debt forgiveness and the wide spread between the lending and deposit rate has been a very large transfer of wealth from household depositors to banks and borrowers. This transfer is, effectively, a large hidden tax on household income, and it is this transfer that cleaned up the last banking mess.
It did not result in a collapse in the banking system, but it nonetheless came with a heavy cost. The banking crisis in China resulted in a collapse (and there is no other word for it) in household consumption as a share of the economy."
well that's interesting, my comment disappeared...
From Patrick Chovanec's An American Perspective From China blog.
"One of the top priorities of the 12th Five-Year Plan will be reducing China’s huge, and often disturbing, wealth gap – a gap that propels at least 200 million migrants every year to find jobs along the more prosperous coast. In 2009, China’s 12 coastal provinces (out of 31) accounted for 65% of the country’s GDP, and had a collective per capita GDP 50%higher than the national average."
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That's interesting, in the case of China.
Actually, if you do for Germany, who was the world's largest exporter before China overtook it, would have an even larger area that represent each country.
Perhaps someone has done it.
Nevertheless, one cannot deny that China's GDP is growing. and that rate of 10-15% pa., it would overtake that of USA's before 2050.
http://www.economics-tuition.com
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