An IMF report last week projects China to be the world’s largest economy, totting $17.6 trillion with the US of A coming second with $17.4 trillion. This should not be a surprise to many as at the start of the year, the World Bank also foretold this occurrence.
The fact that the comparison is based on PPP (Purchasing Power Parity) is also well known, as well the fact that in non-adjusted GDP terms China is around $6 trillion behind USA.
What is surprising is that there goes on a debate about who holds the crown of the largest economy.
The fact that the comparison is based on PPP (Purchasing Power Parity) is also well known, as well the fact that in non-adjusted GDP terms China is around $6 trillion behind USA.
What is surprising is that there goes on a debate about who holds the crown of the largest economy.