For the first time since 1870s.
All hail China!
http://www.forbes.com/sites/timworstall/2014/12/07/chinas-now-the-world-number-one-economy-and-it-doesnt-matter-a-darn/
All hail China!
http://www.forbes.com/sites/timworstall/2014/12/07/chinas-now-the-world-number-one-economy-and-it-doesnt-matter-a-darn/
Not quite true.
The IMF is using purchasing power parity to calculate China's GDP, attributing over 20% growth over the last two years alone, in a depressed global market at that!
In terms of nominal GDP, the United States is still $7.6 trillion ahead of the Chinese (as of 2013).
China will eventually take over the U.S.(which will drop to third behind India) as the world's largest economy - that's a given.
But in my opinion, that's at least six to ten years away - provided China's banking system does not collapse by then (the stories I hear about the reporting practices of provincial GLCs and financial institutions there are sometimes comical).
That's what I wrote 6 posts above yours. And looking at the other posts, it seems nobody reads what the others have written already. This is getting bad...
