Relative price of McDonald’s staple meal is 43% less in China than in US,according to The Economist’s fabled burgernomics measureChina’s currency is significantly undervalued against the dollar, according to the Economist’s latest mammoth Mac index, and which found that the bestselling burger from McDonald’s cost 43% more to buy in the US than in the world’s second largest economy.The yawning gap between the Chinese yuan and the US dollar documented in the latest index indicates that another round in the Sino-US currency war could be looming,although experts cautioned against taking the index as a stringent measurement of currency strength.Continue reading...,
Source: theguardian.com