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China to surpass US economy in sheer size in 2015!

New analysis, based on actual purchasing power, shows that China is set to overtake the United States sometime next year! This is huge news. Essentially, what this new analysis does is look at the actual volume of price-adjusted goods and services in each economy. And when you do that, you see that China will soon be the biggest economy, even though it won't necessarily be the wealthiest.

These figures are from the International Comparison Program, hosted by the World Bank and made up of all the leading statistical agencies around the world. What they revealed is that China had a huge jump between 2005, which was the last time these figures were computed, and 2011. The extrapolation, from 2011 to 2014 that estimates the overtake happening next year sometime, appears to be from the Financial Times of London. 

Wow. I was in China in June, after being away for 25 years, and to me, this all makes sense. 

#china   #economics  
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