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It sounds like the stock market exchange sometimes".
The external price is the nominal, or market, exchange rate.
At market exchange rates, China also trails Japan.
Between 2003 and 2006, global GDP at market exchange rates grew by 3.5% a year.
China's GDP is now only half the size of America's when converted at market exchange rates.
Goldman Sachs expects China's GDP (at market exchange rates) to top America's by 2027.
They therefore produce a more accurate comparison of living standards than market exchange rates.
At market exchange rates they already account for half of global GDP growth.
Similar(3)
Despite the lingering uncertainy in the market, exchange-traded funds that focus on home builders made slim gains Tuesday.
The black-market exchange rate in China suggests that the currency is only slightly undervalued.
In Zimbabwe, the black-market exchange rate is nearly ten times the official one.
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