Waking up from its long sleep, the IMF is predicting that China will surpasse the US as the largest economy in four years.
You would think that doesn't make sense. Traditional GDP calculations convert GDP output to dollars. The IMF's calculation is based on purchasing power (without currency adjustment).
By this non-American standard, the US's GDP is 15 trillion while China's adds up 11 trillion with high reserves and ... "purchasing power". Still doesn't make much sense.
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