The likely near term situation for when China will pass the exchange rate adjusted GDP for the USA and the collective GDP of Europe is becoming clearer based upon statistical method changes and more clearly apparent currency and GDP projections for the five years.
December 16, 2014, China will be adjusting its GDP based upon accounting changes and a new business census. This should boost China's (including Hong Kong and Macau) GDP to about 13.7 trillion in 2015.
Deutsche bank is forecasting the Euro to greatly weaken against the US dollar and the Chinese yuan into 2017.
2014 1.24 US dollars to 1 Euro
2015 1.15 US dollars to 1 Euro
2016 1.05 US dollars to 1 Euro
2017 0.95 US dollars to 1 Euro
Others have similar currency forecasts.
The European Union had (28 countries) a GDP of 13.07 trillion Euros at the end of 2013.
The IMF is expecting Europe GDP growth to be about 1.5% or less.
The Euro currency weakening by about 10% per year will enable China to pass Europe sooner.
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December 16, 2014, China will be adjusting its GDP based upon accounting changes and a new business census. This should boost China's (including Hong Kong and Macau) GDP to about 13.7 trillion in 2015.
Deutsche bank is forecasting the Euro to greatly weaken against the US dollar and the Chinese yuan into 2017.
2014 1.24 US dollars to 1 Euro
2015 1.15 US dollars to 1 Euro
2016 1.05 US dollars to 1 Euro
2017 0.95 US dollars to 1 Euro
Others have similar currency forecasts.
The European Union had (28 countries) a GDP of 13.07 trillion Euros at the end of 2013.
The IMF is expecting Europe GDP growth to be about 1.5% or less.
The Euro currency weakening by about 10% per year will enable China to pass Europe sooner.
Read more »
