Big Mac Index Inflames Debate Over Chinese Yuan's Value

China’s currency is significantly undervalued against the dollar, according to the Economist’s latest Big Mac index, 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.
As the Economist, which invented the index in 1986, said: “Burgernomics was never intended as a precise gauge of currency misalignment, merely a tool to make exchange-rate theory more digestible.”
The Economist said, "The average price of a Big Mac in America in July 2015 was $4.79; in China it was only $2.74 at market exchange rates.