China Rated as the Largest Economy: Public Response Remains Calm
From:CCCWS | 05-20-2014 | By:CCCWS visitors：507
On 30th April, World Bank announced sizes in PPP terms of major economies. According to the report, China’s GDP aggregate in PPP terms stood at ＄13.5 trillion in 2011, equivalent to 87% of that of the US. As estimated by IMF, China’s economy has grown by 24% between 2011 and 2014 while US economy has only grown by 7.6%. Based on such growth rate, China’s GDP aggregate is expected to overtake US in 2014 as the largest economy in the world. The year when China’s economy size surpasses that of US has been much talked about since China overtook Japan back in 2011. Most economists forecasted that the size of Chinese economy will overtake that of US before 2020.