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Nairaland Forum / Nairaland / General / Business / China Overtakes US As The World's Largest Economy (922 Views)
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China Overtakes US As The World's Largest Economy by lordnammy(m): 1:09am On Nov 02, 2014 |
With $17.6 trillion worth, the Chinese economy is now the world's largest as US falls into second place for the first time since 1872. According to figures from the International Monetary Fund (IMF), China has toppled America to become the biggest economy in the world. The US has been the global leader since it overtook Britain in 1872. The new IMF figures show the Chinese economy is worth $17.6trillion compared with $17.4trillion for the US. The numbers are based on 'purchasing power parity' (PPP) which makes adjustments for the fact that goods are cheaper in countries such as China relative to the US. Without these adjustments for living costs, the Chinese economy is still smaller than that of the US, the Mail online reported. But experts have described the toppling of America by China - even on the PPP measure - as a 'symbolic' moment for the global economy. China enjoyed three decades of double-digit growth before the global downturn, as industrialisation and economic reforms created a new powerhouse in the East. The IMF forecasts the Chinese economy to grow by 7.4 per cent this year and 7.1 per cent in 2015. http://m.indiatoday.in/story/china-overtakes-us-as-the-world-largest-economy/1/394868.html |
Re: China Overtakes US As The World's Largest Economy by blemon44(m): 1:22am On Nov 02, 2014 |
chaii!!! |
Re: China Overtakes US As The World's Largest Economy by lordnammy(m): 1:29am On Nov 02, 2014 |
blemon44:wat |
Re: China Overtakes US As The World's Largest Economy by blemon44(m): 1:34am On Nov 02, 2014 |
Re: China Overtakes US As The World's Largest Economy by redcliff: 1:41am On Nov 02, 2014 |
It is obvious that power is beginning to shift hands. I saw this coming in 2009. It was just a matter of time... The internet also did not help matters fr the Americans when you have the common man becoming an importer from China. |
Re: China Overtakes US As The World's Largest Economy by Nobody: 8:04am On Nov 02, 2014 |
alibaba played a crucial factor as well |
Re: China Overtakes US As The World's Largest Economy by lordnammy(m): 9:27am On Nov 02, 2014 |
redcliff:IMF knew from the growth of chinese economy: Nigeria and china rocks |
Re: China Overtakes US As The World's Largest Economy by lordnammy(m): 10:16am On Nov 03, 2014 |
Dtrader1:is alibaba onwed by China or American? |
Re: China Overtakes US As The World's Largest Economy by mrsolutionm(m): 1:38pm On Nov 03, 2014 |
lordnammy:its owned by a chinese man |
Re: China Overtakes US As The World's Largest Economy by internetpo(m): 4:19pm On Nov 03, 2014 |
Hmm! Good new. I believe Naija will soon follow suit and become bigger than America too, economically. I believe in the Nigerian project. Do you? |
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