Wednesday, October 8, 2014

China Just Overtook The US In One Key Economic Indicator

Adjusted for purchasing power, China's economy is now the world's largest. IMF, Google Public Data Explorer

China Just Overtook The US As The World's Largest Economy -- Business Insider

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 happen.

Basically, the method used by the IMF adjusts for purchasing power parity, explained here.

1 comment:

Unknown said...

Yet somehow Obama got an almost 3 point bump in the approval/disapproval polls.

There must be many ignorant people out there.

... Or a lot of people on the corn dole like in Rome or Byzantium

http://www.realclearpolitics.com/epolls/other/president_obama_job_approval-1044.html

I am sure the Chinese lie. I have heard this from a variety of trusted sources.

But you can only fudge the figures so much (the low 3 digits; at least you could in the 1950s and people would believe it).