China Overtakes U.S. As World's Largest Economy Yet Again
New data from the IMF shows China's adjusted GDP has surpassed Americas, but some people are skeptical about the agency's calculations.By Matt Picht | December 6, 2014
According to the financial world, it's time to brush up on your Mandarin. China has officially surpassed the U.S. to become the world's largest economy. Again.
That's according to new data from the International Monetary Fund, which released a report in October comparing an adjusted GDP of various countries. The IMF says China will produce $17.6 trillion this year, ahead of the $17.4 trillion made by the U.S.
The news is making the rounds now thanks to this Marketwatch article titled "It's Official: America is Number 2." The piece notes that "For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet," and predicts the news will herald "a geopolitical earthquake with a high reading on the Richter scale."