What's the diff between REAL GDP and NOMINAL GDP? Specifically, if China's artificially low valued Yuan makes for a lower nominal GDP than Japan's, how can one say China has the largest economy in Asia?
by 
Jack Wallace
ANSWERS: 1
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addendum: I already know the whole buzz word answer about exchange rate valuations and "current price adjusted value" (whatever that means!). What I want to know is what it really means and why it matters. If the value of China's exports are artificially deflated due to currency manipulation then that's their real value! So what's the point of talking about "real GDP"?
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