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**Kotyara** · 01-13-2011, 04:53 PM

well here we have 1960 GDP for China
http://www.nationmaster.com/graph/ec...pita&date=1960

92$ per head - but nominal... at at this point the economy already doubled from 1952, so we are talking about "less than 50$" nominal per head... which would indicate that the vaules are definitely not constant currency as indicated... but nominal... and that makes sense as at the time exhange rate was about 2.something/1, so from 119 RMB you would get about 50$ per head for 1952...

To get to today it's a facor of ~8... so about 400$ per head in current dollars - ie slightly better than Congo today...

so - not constant growth rates, but who cares, right?

This does not detract from the argument, and that is - convert to communism or else!

01-13-2011, 04:53 PM	#5
Kotyara Join Date Oct 2005 Posts 431 Senior Member	well here we have 1960 GDP for China http://www.nationmaster.com/graph/ec...pita&date=1960 92$ per head - but nominal... at at this point the economy already doubled from 1952, so we are talking about "less than 50$" nominal per head... which would indicate that the vaules are definitely not constant currency as indicated... but nominal... and that makes sense as at the time exhange rate was about 2.something/1, so from 119 RMB you would get about 50$ per head for 1952... To get to today it's a facor of ~8... so about 400$ per head in current dollars - ie slightly better than Congo today... so - not constant growth rates, but who cares, right? This does not detract from the argument, and that is - convert to communism or else!
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