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Posts Tagged ‘China overtook USA’

China becomes world’s largest economy – putting USA in second place for the first time in 142 years

Posted by Ram Kumar Shrestha on December 7, 2014

By HUGO DUNCAN and DAVID MARTOSKO,

  • Figures show the Chinese economy is worth $17.6 trillion, compared to America’s $17.4 trillion
  • The IMF estimates China’s economy will be worth a whopping $27 trillion in 2019
  • The US has been the global economic performance leader since it overtook Britain in 1872 
  • White House seemed oblivious on Wednesday, crowing that ‘the economic policies that this president put in place are the envy of the world’

China has toppled America to become the biggest economy in the world, according to figures from the International Monetary Fund.

The White House seemed caught flat-footed by the news, crowing on Wednesday about America’s relative economic strength in comparison with the rest of the world.

The US has been the global leader since it overtook Britain in 1872, but has now lost its status as top dog.

The latest IMF figures show the Chinese economy is worth $17.61 trillion compared with $17.4 trillion for the U.S.

Economic battle:The International Monetary Fund has indicated that China, and not the US, is now the biggest economy in the world 

Economic battle:The International Monetary Fund has indicated that China, and not the US, is now the biggest economy in the world

Out of the loop? US President Barack Obama touted America's manufacturing economy during an Oct. 3 speech at an Indiana steel company, claiming that jobs and work orders were no longer 'moving to China or other countries'

Out of the loop? US President Barack Obama touted America’s manufacturing economy during an Oct. 3 speech at an Indiana steel company, claiming that jobs and work orders were no longer ‘moving to China or other countries’

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