USA is now number 2

[RodeoX]

The writing has been on the wall for some time now. And on the labels of your clothing, your phone, the computer you are using, everything really.

[botany]

if usa number 2,and number one?

I guess you read only the subject and didn't even read the OP.

[countryfree]

This isn't exactly right. The data comes from here:

http://www.imf.org/external/pubs/ft/weo/2014/02/weodata/weorept.aspx?pr.x=84&pr.y=9&sy=2012&ey=2019&scsm=1&ssd=1&sort=country&ds=.&br=1&c=512%2C668%2C914%2C672%2C612%2C946%2C614%2C137%2C311%2C962%2C213%2C674%2C911%2C676%2C193%2C548%2C122%2C556%2C912%2C678%2C313%2C181%2C419%2C867%2C513%2C682%2C316%2C684%2C913%2C273%2C124%2C868%2C339%2C921%2C638%2C948%2C514%2C943%2C218%2C686%2C963%2C688%2C616%2C518%2C223%2C728%2C516%2C558%2C918%2C138%2C748%2C196%2C618%2C278%2C624%2C692%2C522%2C694%2C622%2C142%2C156%2C449%2C626%2C564%2C628%2C565%2C228%2C283%2C924%2C853%2C233%2C288%2C632%2C293%2C636%2C566%2C634%2C964%2C238%2C182%2C662%2C453%2C960%2C968%2C423%2C922%2C935%2C714%2C128%2C862%2C611%2C135%2C321%2C716%2C243%2C456%2C248%2C722%2C469%2C942%2C253%2C718%2C642%2C724%2C643%2C576%2C939%2C936%2C644%2C961%2C819%2C813%2C172%2C199%2C132%2C733%2C646%2C184%2C648%2C524%2C915%2C361%2C134%2C362%2C652%2C364%2C174%2C732%2C328%2C366%2C258%2C734%2C656%2C144%2C654%2C146%2C336%2C463%2C263%2C528%2C268%2C923%2C532%2C738%2C944%2C578%2C176%2C537%2C534%2C742%2C536%2C866%2C429%2C369%2C433%2C744%2C178%2C186%2C436%2C925%2C136%2C869%2C343%2C746%2C158%2C926%2C439%2C466%2C916%2C112%2C664%2C111%2C826%2C298%2C542%2C927%2C967%2C846%2C443%2C299%2C917%2C582%2C544%2C474%2C941%2C754%2C446%2C698%2C666&s=PPPGDP&grp=0&a=

China leads when you compare "Gross domestic product based on purchasing-power-parity (PPP) valuation of country GDP". If you compare gross domestic product in a standard way, the European Union is leading, with the US right behind, and China a distant third.

[tropical0101]

In general, it doesn't surprise me. China  is dominating the US economy from years..

[STT]

China is a far larger country, what took them so long.  Mao Tse-tung I think knows that one.
Problem is China holds so many ties to USA, its more like joint 2nd.   With all their treasury debt they are more invested then many who actually live here so Im thinking its more of a three legged race then anything else

[senseless]

As an american who left and never really went back it's not surprising. America reminds me of the philippines except people know how to stand in line and it's not quite as dirty.

What I like most is that now that america isn't #1 it's "oh it's not so bad, they're just numbers anyway -- right??"

[gablay12]

There are many criteria to be the biggest economy.

China is the seller, States is the market.They can not be without each other.At least for the coming decade.

[tropical0101]

There are many criteria to be the biggest economy.

China is the seller, States is the market.They can not be without each other.At least for the coming decade.

China is not only seller.. China is  strategic partner and here is power of manipulations

[rugrats]

For the first time since 1870s.

All hail China!

http://www.forbes.com/sites/timworstall/2014/12/07/chinas-now-the-world-number-one-economy-and-it-doesnt-matter-a-darn/

Not quite true.

The IMF is using purchasing power parity to calculate China's GDP, attributing over 20% growth over the last two years alone, in a depressed global market at that!
In terms of nominal GDP, the United States is still $7.6 trillion ahead of the Chinese (as of 2013).
China will eventually take over the U.S.(which will drop to third behind India) as the world's largest economy - that's a given.
But in my opinion, that's at least six to ten years away - provided China's banking system does not collapse by then (the stories I hear about the reporting practices of provincial GLCs and financial institutions there are sometimes comical).

[gablay12]

China is a big giant with one leg

China is dependent to States and Germany&Russia

[BillyBobZorton]

There are many criteria to be the biggest economy.

China is the seller, States is the market.They can not be without each other.At least for the coming decade.

China is not only seller.. China is  strategic partner and here is power of manipulations

China is uncapable of producing quality stuff. No one is going to trust China to buy a car but everyone will keep trusting the Germans and so on.

[countryfree]

For the first time since 1870s.

All hail China!

http://www.forbes.com/sites/timworstall/2014/12/07/chinas-now-the-world-number-one-economy-and-it-doesnt-matter-a-darn/

Not quite true.

The IMF is using purchasing power parity to calculate China's GDP, attributing over 20% growth over the last two years alone, in a depressed global market at that!
In terms of nominal GDP, the United States is still $7.6 trillion ahead of the Chinese (as of 2013).
China will eventually take over the U.S.(which will drop to third behind India) as the world's largest economy - that's a given.
But in my opinion, that's at least six to ten years away - provided China's banking system does not collapse by then (the stories I hear about the reporting practices of provincial GLCs and financial institutions there are sometimes comical).

That's what I wrote 6 posts above yours. And looking at the other posts, it seems nobody reads what the others have written already. This is getting bad...

[cakir]

China was already dominating bitcoin and it's price. It's not a surprise for us.
I think China will grow much more because all of the "money worth technology" is manifactured in China.

I guess Next step of China will be naming price of lots of things...

[Honeypot]

For the first time since 1870s.

All hail China!

http://www.forbes.com/sites/timworstall/2014/12/07/chinas-now-the-world-number-one-economy-and-it-doesnt-matter-a-darn/

Not quite true.

The IMF is using purchasing power parity to calculate China's GDP, attributing over 20% growth over the last two years alone, in a depressed global market at that!
In terms of nominal GDP, the United States is still $7.6 trillion ahead of the Chinese (as of 2013).
China will eventually take over the U.S.(which will drop to third behind India) as the world's largest economy - that's a given.
But in my opinion, that's at least six to ten years away - provided China's banking system does not collapse by then (the stories I hear about the reporting practices of provincial GLCs and financial institutions there are sometimes comical).

That's what I wrote 6 posts above yours. And looking at the other posts, it seems nobody reads what the others have written already. This is getting bad...

This whole non sense around PPP was reported over 2 months ago. Why the false excitement now?

Lots of desperate chinese here

Let me know when they are close to surpassing US Nominal GDP - much more accurate measure of economic power even with all its faults in comparison to localized, misreported, and grossly distorted PPP. From what I know,  their gpd growth is getting slower and slower despite their efforts, while US economy is emerging slowly out of slow growth post recession and manufacture is moving out of china. With US GDP leading chinese gdp, and absolute growth number getting closer and closer, the corner has been turned.

Much wishful thinking from the chinese

[freedomno1]

Well we all saw that coming
So many billions of peoples aggregate income finally passed those of a few hundred million rich westerners
That said it will still take time for them to get to our standard of living.

Did feel a sense of Deja Vu though

[Zarathustra]

For the first time since 1870s.

All hail China!

China is the greatest government orchestrated bubble ever.

[youngmike]

No surprise, their economy is very good
And the product is everywhere

USA, what's gonna happen to you now ?

[youngmike]

Well we all saw that coming
So many billions of peoples aggregate income finally passed those of a few hundred million rich westerners
That said it will still take time for them to get to our standard of living.

Did feel a sense of Deja Vu though

[DOGEYOLO]

Time to whip out the old Rosetta Stone to get my Mandarin on 

[jasabbm]

For the first time since 1870s.

All hail China!

http://www.forbes.com/sites/timworstall/2014/12/07/chinas-now-the-world-number-one-economy-and-it-doesnt-matter-a-darn/

This is not news! I think that the overtaking was maybe 6/7 months ago!