Speedy Construction - Chinese Style

Also, China may be reaching a major milestone earlier than previously forecasted.

The Conference Board recently released its 2011 Global Economic Outlook. Two key highlights from the report are:

• China may have a larger GDP, based on PPP exchange rates, than the United States by 2012.
• India share of global output will double between 2000 and 2020, though its impact on global growth will remain much smaller than China’s.

A Note on PPP exchange rates: PPP exchange rate can be thought of as the "rate at which the currency of one country would have to be converted into that of another country to buy the same amount of goods and services in each country” (IMF, 2007).