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China's per capita gross domestic product is less than $4,000 at market exchange rates, but Morgan Stanley said China had reached Mr. Maddison's magic number, which is based on purchasing power, in 2008.
The rankings, published this week, are the first results of the International Comparison Programme (ICP) managed by the World Bank, which compares price levels and GDP per head across more than 100 economies based on purchasing power parities exchange rates adjusted to reflect the price of an identical basket of goods and services in different countries.
For better comparison, we have also converted costs to international dollars (ID) based on purchasing power parity (PPP) (2012).
Over the past 25 years, per capita income, based on purchasing power parity, grew by over 400% in India and a remarkable 1,500% in China.
From these data, the following correlations between GDP (based on purchasing power parity per capita) and amount of MSW production were derived and applied for MSW production until the year 2030, taking into consideration the development of the GDP given in the framework scenarios: M BAU = M L BAU + M R - BAU, (1) M LBAU = 0.0294 × GDP 0.3607, (2) M R - BAU = 2.6473 × 10 − 5 × GDP − 0.1908, (3).
Today, China is the world's largest economy (based on purchasing power parity) and the largest participant in world trade, and its government has been actively promoting renminbi internationalization, such as through the relaxation of foreign-exchange regulations.
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While the variables used in this study, such as age, gender, marital status, ethnic background, education, occupation and material deprivation category based on purchase power are relatively easy to measure and can be considered as valid, the validity of SRH and differential reporting can be further discussed.
Consider, he says, a fair exchange rate (based, say, on purchasing power parity) for currencies.
He has compared Gallup's satisfaction score with national income based on purchasing-power parities, and got a close fit.So what should one make of the contradiction between these surveys and previous evidence?
Comparisons are based on purchasing-power parity, which takes account of price differences between countries.
By some measures (based on purchasing-power parity) China has accounted for a slightly bigger slice of global growth than America in recent years.
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Justyna Jupowicz-Kozak
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