Economic

China poised to overtake US as world’s largest economy, research shows

“China is poised to overtake the US as the world’s largest economy this year, earlier than expected.

Fresh research by the International Comparison Program (ICP), coordinated by the World Bank, considered the real cost of living and purchasing power in countries around the world as the best way of comparing the size of different economies.

Using this measure, the ICP concluded that the size of the Chinese economy in 2011 was 87% of the US economy, up from 43% in 2005 when the last comparison was made.”

Source: China poised to overtake US as world’s largest economy, research shows | Business | theguardian.com

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