Who Has the World’s No. 1 Economy? Not the U.S.

Please see the source for additional charts.

 

The wear and tear doesn’t help. Photographer: Kurt Wittman/UIG via Getty Images

 

By the most measures, China has passed the U.S. and is pulling away.

What’s the most powerful country in the world? There’s a good case to be made that it’s China.

There are many kinds of power — diplomatic, cultural, military and economic. So an easier question to ask is: What’s the world’s largest economy? That’s almost certainly China.

Many might protest when hearing this. After all, the U.S. still produces the most when measured at market exchange rates:

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China gears up for World War III

Nuclear missiles with multiple warheads, anti-ship missiles, and man-made islands are all evidence China is increasing its military ambitions, and the United States isn’t happy about it.

The latest confrontation between the United States and China happened this week after an American spy plane was warned away from Chinese man-made islands eight times, according to CNN.

China is constructing the islands, which have been called a Great Wall of Sand, 600 miles from its coastlands to extend its dominion into the South China Sea, an area long disputed by rival countries, according to the Inquisitr.

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China Just Overtook The US As The World’s Largest Economy

China US economies

Adjusted for purchasing power, the IMF thinks China’s economy is now the world’s largest.

 

Sorry, America. China just overtook the US to become the world’s largest economy, according to the International Monetary Fund.

Chris Giles at the Financial Times flagged up the change. He also alerted us in April that it was all about to happenContinue reading

China poised to pass US as world’s leading economic power this year

The US is on the brink of losing its status as the world’s largest economy, and is likely to slip behind China this year, sooner than widely anticipated, according to the world’s leading statistical agencies.

The US has been the global leader since overtaking the UK in 1872. Most economists previously thought China would pull ahead in 2019.

The figures, compiled by the International Comparison Program hosted by the World Bank, are the most authoritative estimates of what money can buy in different countries and are used by most public and private sector organisations, such as the International Monetary Fund. This is the first time they have been updated since 2005. Continue reading

US ‘seriously’ considering $1 trillion coin to pay off debt

The US is “seriously” considering creating a $1 trillion platinum coin to write down part of its debt to stop the world’s largest economy defaulting as early as next month, according to financial analyst Cullen Roche.

“I know it’s been spoken about at the White House and a number of prominent people, including congressman [sic], are talking about it,” he said. Continue reading