(a) Explain the concept of purchasing power parity with the help of an example.
(b) What is the role of Chinese in politics?
(a) Explain the concept of purchasing power parity with the help of an example.
(b) What is the role of Chinese in politics?
(a) Purchasing power parity shows the equality of purchasing power among countries, that is quantity of goods and services that can be bought with the unit of money. For ex, 1 Indian Rupee cannot buy the same quantity of goods and services in Pakistan or China as it can buy in India. Similar is the case with Pakistani Rupee and China's Yuan. US Dollar is the universally accepted currency. Therefore, GDPs of different countries are expressed in US Dollar and called 'PPP US $′.
(b) In China, the role of people in democracy is very limited. The political activities are stopped with local elections that are their role is only in local administration. They can only vote for mayor, as the Chinese politics is localized, and the governance of the country is nationalized. Schemes and developments projects introduced by the center cannot be spoiled by the state and by local politicians. People, by and large, are not carried away by emotions; rather they are amenable to the region and practical possibilities.
(a) Purchasing power parity shows the equality of purchasing power among countries, that is quantity of goods and services that can be bought with the unit of money. For ex, 1 Indian Rupee cannot buy the same quantity of goods and services in Pakistan or China as it can buy in India. Similar is the case with Pakistani Rupee and China's Yuan. US Dollar is the universally accepted currency. Therefore, GDPs of different countries are expressed in US Dollar and called 'PPP US $′.
(b) In China, the role of people in democracy is very limited. The political activities are stopped with local elections that are their role is only in local administration. They can only vote for mayor, as the Chinese politics is localized, and the governance of the country is nationalized. Schemes and developments projects introduced by the center cannot be spoiled by the state and by local politicians. People, by and large, are not carried away by emotions; rather they are amenable to the region and practical possibilities.
