The United States of America is gradually losing its super-power position in the world to the giant Asian country-China. The International Monetary Fund (IMF) has announced that China has overtaken US to become the world’s largest economy.
To find out this, Business Insider says the IMF measures both GDP in market exchange terms, and in terms of purchasing power. And on the purchasing power basis, IMF says China is overtaking the US right about now and becoming the world’s biggest economy.
According to the IMF, by the end of 2014, China will make up 16.48% of the world’s purchasing-power adjusted GDP (or $17.632 trillion), and the US will make up just 16.28% (or $17.416 trillion).
Interestingly, Chris Giles at the Financial Times mentioned in April this year that this was going to happen—and that China will take over.
This post was published on October 8, 2014 1:10 PM
Our website, www.ghanacelebrities.com, uses cookies. The website uses analytical cookies to check the behavior of visitors and to improve the website on the basis of these data. In addition, third parties place tracking cookies to show personalized advertisements. Do not want to accept all cookies?
Read More
