Discussion in 'Economics' started by noob_trad3r, Jul 29, 2009.
In the US 1 dollar buys little maybe a stick of gum. In China what can you get for a dollar?
Is there a point to this question or just an exercise in purchasing power parity?
A one dollar whore.
I recall an episode of Wild West Tech... where there were some soiled doves who'd throw you one for $.25*... hence the term, "two-bit whore", I guess.
*twas when money was REAL
Is the dollar strong in China, I hear people make 5-10 cents an hour in china.
So a dollar can buy one weeks worth of groceries right?
The last time I was in china was a good year and half ago, so if my info is outdated, someone should correct me. A dollar cannot buy one week's grocery in any major city.
Rural factory workers may earn 5-10 cents an hour (which I kind of doubt, but I don't know much about this), but it's certainly not true for any for any city office workers.
Also, the chinese currency is hard pegged to the dollar.
Prosecutor: "Now Mam', please tell the court the weapon you used on your boyfriend ?"
Defendant: "I hit him with a bag of quarters."
what a joke.
"Also, the chinese currency is hard pegged to the dollar"
are you implying that the yuan is hard because it is pegged to the dollar. if you are from the US I would not be surprised by your nonsensical statement.
By hard pegged he means that it does not fluctuate much if at all against the USD. How hard is the USD is another matter.
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