The Penn World Tables are one of the main official sources of purchasing power parity.
The China version 2 Penn World Table 7.1 lists a 3.37 conversion yuan to USD as the correct purchasing power parity conversion factor.
China ended 2012 with 51.9 trillion yuan GDP, which is 15.4 trillion USD at 3.37 conversion.
There is also the need to add $300 billion for Hong Kong and Macau's GDP. Hong Kong and Macau were turned back over to China in the late 1990s.
The US GDP was about 15.8 trillion USD at the end of 2012.
Now 3 months into 2013, China-Hong Kong-Macau has passed the USA in PPP GDP using Penn World Tables 7.1.
Other economists and academics have calculated that China passed the US in purchasing power parity in the 2009-2012 timeframes.
Professor Feenstra will be leading the effort to produce the next generation of the Penn World Table GDP (PPP-based) estimates.
So when the next Penn World Tables 8.X version comes out with Feenstra input then it will show that China passed the US sometime in 2010-2012.
The Penn World Table 7 adjustments has China passing the US for leading PPP GDP in 2012 with 15.954 trillion in China versus the US 15.61 trillion.
Professor Feenstra will be leading the effort to produce the next generation of the Penn World Table GDP (PPP-based) estimates.
So when the next Penn World Tables 8.X version comes out with Feenstra input then it will likely show that China passed the US sometime in 2010-2012.
Read more from Next Big Future
The China version 2 Penn World Table 7.1 lists a 3.37 conversion yuan to USD as the correct purchasing power parity conversion factor.
China ended 2012 with 51.9 trillion yuan GDP, which is 15.4 trillion USD at 3.37 conversion.
There is also the need to add $300 billion for Hong Kong and Macau's GDP. Hong Kong and Macau were turned back over to China in the late 1990s.
The US GDP was about 15.8 trillion USD at the end of 2012.
Now 3 months into 2013, China-Hong Kong-Macau has passed the USA in PPP GDP using Penn World Tables 7.1.
Other economists and academics have calculated that China passed the US in purchasing power parity in the 2009-2012 timeframes.
Professor Feenstra will be leading the effort to produce the next generation of the Penn World Table GDP (PPP-based) estimates.
So when the next Penn World Tables 8.X version comes out with Feenstra input then it will show that China passed the US sometime in 2010-2012.
The Penn World Table 7 adjustments has China passing the US for leading PPP GDP in 2012 with 15.954 trillion in China versus the US 15.61 trillion.
Professor Feenstra will be leading the effort to produce the next generation of the Penn World Table GDP (PPP-based) estimates.
So when the next Penn World Tables 8.X version comes out with Feenstra input then it will likely show that China passed the US sometime in 2010-2012.
Read more from Next Big Future
