One Way That China's Economy Actually IS Bigger Than The U.S.
Some recent polls have shown that Americans no longer have the number one economy in the United States. And though technically, America's economy still holds the one seat globally, when measured by purchasing power, China comes out on top.
A recent Bloomberg article says that when measured in terms of purchasing power, the Chinese economy was $14.8 trillion in 2010 and the U.S. economy only $14.6 trillion.
So, what does it mean for an economy to be rated for its purchasing power? Bloomberg says that the "So-called puchasing power parity calculates gross domestic product using exchange rates that adjusts for price differences of the same good between nations."
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