Thinking about China?
The Chinese economy is still growing at a break-neck pace, but that doesn't assure instant success.
At Pudong International Airport in Shanghai, you can take the world's fastest train into the city and average 140 miles per hour all in an eight-minute time span. Jump on this fast-moving train? Forget it. Even if you physically could do so, there is no doubt you'd never know what happened to you. And yet Shanghai's ultra-fast train might make for a good analogy for those trying to break into the fast-moving Chinese economy.
For the last three years, China's real gross domestic product (gdp) has grown 8.0, 9.3, and 9.5 percent and is on track for 8.3 percent this year, according to the World Bank. By contrast, the U.S. GDP has grown at about one-third to one-quarter of those rates. In terms of purchasing power parity (ppp)-which measures data in a common currency to factor out differences in prices between countries-China's GDP ranks second in the world only to the United States.
Most notably for those hawking products in China, the World Bank reported urban per capita income up 11 percent and rural per capita cash income up 16 percent year-over-year in first quarter 2005. Keep in mind that general national income (gni) per capita was only $1,100 in 2003, compared with $37,870 in the U.S. That ranks China number 134 in terms of GNI per capita, just ahead of Honduras which is one of the poorest nations in our hemisphere. And yet, it doesn't take a genius to predict that increasing that GNI figure for 1.3 billion people even by a small amount will make China the world's largest economy.
External Source - For the complete article click here
Source - OSR Magazine
For the last three years, China's real gross domestic product (gdp) has grown 8.0, 9.3, and 9.5 percent and is on track for 8.3 percent this year, according to the World Bank. By contrast, the U.S. GDP has grown at about one-third to one-quarter of those rates. In terms of purchasing power parity (ppp)-which measures data in a common currency to factor out differences in prices between countries-China's GDP ranks second in the world only to the United States.
Most notably for those hawking products in China, the World Bank reported urban per capita income up 11 percent and rural per capita cash income up 16 percent year-over-year in first quarter 2005. Keep in mind that general national income (gni) per capita was only $1,100 in 2003, compared with $37,870 in the U.S. That ranks China number 134 in terms of GNI per capita, just ahead of Honduras which is one of the poorest nations in our hemisphere. And yet, it doesn't take a genius to predict that increasing that GNI figure for 1.3 billion people even by a small amount will make China the world's largest economy.
External Source - For the complete article click here
Source - OSR Magazine
