The IMF called on China to deploy “one-off” fiscal resources to complete and deliver pre-sold properties or compensate homebuyers, according to an annual review of the world’s second-largest economy published Friday. It put the cost at the equivalent of 5.5% of gross domestic product over four years.
That would amount to almost $1 trillion based on last year’s GDP, according to Bloomberg calculations.
Using nominal GDP instead of GDP adjusted for purchasing power parity (PPP). America still leads in the former because the same goods and services cost more there than in China.
Bloomberg made up the $1 trillion figure
“This would amount to INFINITY PLUS ONE TIMES A HUNDRED dollars.”
Ancient Chinese or Greeks would use "10000" for that figure of speech but it would look silly for US oligarch.
What weird hollywood accounting are they using to put China's economy behind amerikas lmao
Using nominal GDP instead of GDP adjusted for purchasing power parity (PPP). America still leads in the former because the same goods and services cost more there than in China.
this is also the same neat trick they use when they say Italy's economy is bigger than Russia's