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Friday, October 10, 2014
China Topped The US As The World's Largest Economy
Sorry, America. China just overtook the US to become the world's largest economy, according to the International Monetary Fun. This was inevitable, but it still feels momentous: By one important measure, China's economy is now the biggest in the world, topping the United States.
China's gross domestic product is worth $17.6 trillion, adjusted for China's relatively low cost of living, compared with $17.4 trillion for the U.S., the International Monetary Fund estimated as part of its latest World Economic Outlook. Here's how that looks in chart form:
Here's another way of looking at it -- China's share of the global economy is now slightly bigger than America's, at 16.5 percent to 16.3 percent: