Finally, China overthrown America as World’s Largest Economy

According to the International
Monetary Fund, IMF, China has
overtaken the United States as the
world’s largest economy. The IMF
estimates that the size of the US
economy is $17.4tr, while the
Chinese economy comes in at
$17.6tr, Business Insider
reports. China’s share of the global
economy is 16.48 per cent, while the
United States accounts for 16.28 per
cent, the IMF said Tuesday as part
of its outlook for the world
economic growth.

These figures are adjusted for
the relative costs of living in
both countries, known as
“purchasing power parity.”
In 2005, Chinese economy was less
than half the size of US economy.
Today, the story has changed.