A bank clerk counts Chinese yuan banknotes at a branch of Industrial and Commercial Bank of China in Huaibei, Anhui province, June 8, 2012. Credit: Reuters/Stringer
China Overtakes The US As World's Largest Economy -- AOl.com
The U.S. no longer boasts the world's largest economy.
China, the world's most populous country, has overtaken America to claim the title of world's number one economic powerhouse, according to the International Monetary Fund (IMF).
By year's end, China's economic output will reach $17.6 trillion – the U.S. will slide down to second with a mere $17.4 trillion.
Just over a decade ago, in 2000, the Americans produced three-times as much as the Chinese, MarketWatch noted. The Chinese economy was one-tenth the size of the U.S. in 1980, according to the Financial Times (FT).
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MIDDLE EAST
Warily, U.S. learns to live with more muscular Iran role in Iraq.
Iraq car bomb attacks in Kirkuk and Baghdad kill 35.
US Ambassador to Iraq: US forces assured immunity.
Islamic State cedes little ground despite air attacks.
Islamic State launches attack on Syrian air base.
Lebanon 'holding IS leader's daughter and ex-wife'.
Iran atom deal seeks to plug any gaps on centrifuge R&D: experts.
Saudi suspends aid to Yemen after Houthi takeover - sources.
Turkish nationalists charged in assault on U.S. sailors, face long jail sentence.
Emirates police make arrest in American's stabbing.
U.S. discloses failed attempt to rescue American in Yemen.
ASIA
Afghanistan reassured it will have backing of Western powers as combat troops withdraw.
Afghan leaders seek support at UK conference.
Afghan police officer who killed US general was not linked to extremist group.
Indian Army kills 6 militants in Kashmir gun battle.
A year after Haiyan's devastation, new super typhoon threatens Philippines.
Hong Kong student protesters consider pulling up stakes.
China to stop using executed prisoners as source of transplant organs.
India to press G20 for deadline to cut remittance costs: sources.
Kim Jong-un's sister 'to visit South Korea for festival'.
AFRICA
Dozens killed in Nigeria's Boko Haram attack.
More air strikes near Tripoli in struggle between Libya's rival groups.
Somali rebels say shot down Kenyan military plane.
Police repel attack on French factory in Nigeria.
France begins withdrawing Central Africa troops as U.N. deploys.
While diplomats fret, Burkina backs military to drive reform agenda.
Zimbabwe's Mugabe purges 'treacherous' deputy once seen as successor. Zimbabwe's Mugabe warns potential plotters.
Kenya breaks 'Chinese-run cyber crime network'.
Dirty deeds: Soil degradation costs African farmers $68 billion yearly.
EUROPE
Ukraine president announces new ceasefire.
Ukraine rebel: Residential areas used as cover.
Putin: ‘No one will succeed in defeating Russia militarily’.
Vladimir Putin says Crimea is part of Russia historically and forever.
Putin: Under no circumstances will Moscow stop cooperating with Europe, US. Putin defends foreign policy in state address.
US calls on Russia to calm turbulence in Ukraine.
Obama: Putin ‘scares heck out of neighbors’ with ‘nationalist, backward-looking’ policy.
Accident at nuclear power plant in Ukraine: Electricity crisis across country worsens after power unit at facility in war-torn east suffers technical fault.
Fleeing war and crumbling economy, Ukrainians flock to Europe.
Putin orders cash from Russia's wealth fund be used to support banks.
10 police killed, 28 injured in Grozny anti-terror operation.
Turkish navy to conduct exercises in the Aegean during talks.
Court tells France to pay damages to Somali pirates.
AMERICAS
'Outrage': Second day of protests continues over Eric Garner decision. Protests after N.Y. cop not indicted in chokehold death; feds reviewing case.
US fast food worker protests expand to 190 cities.
Venezuela cuts spending as oil prices plummet.
Mexico sends federal forces to violence-ridden region.
Private firms filling Latin America's security gap.
NASA scrubs Orion launch after multiple delays.
US birth rate hits all-time low.
The best and worst run states in America: A survey of all 50.
TERRORISM/THE LONG WAR
Al-Qaeda releases video threatening to execute British-US hostage.
AFRICOM chief: IS group has training camps in Libya.
Pakistani Taliban squeezed by Afghan revolt, U.S. drone strikes.
ECONOMY/FINANCE/BUSINESS
Canada approves Burger King, Tim Hortons merger.
Uber taxi firm valued at $40bn after $1.2bn fundraising.
Dimon says Europe economy to drag for decade as China hits goals.
Roubini: We're in an asset bubble and it won't pop until 2016.
Spectre to be title of next James Bond film.
1 comment:
I wonder if the Chairman ever dreamed he would one day be the face of the Renminbi?
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