IMF: China is first economy in the world

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China’s GDP at purchasing power parity (PPP) amounted to 17,632 trillion dollars against 17,416 trillion dollars of the United States. Thus the Chinese economy for the first time surpassed American, reported by the IMF.

According to estimates of the fund next year the gap will increase to almost a trillion dollars – Chinese GDP at PPP will be 19.23 trillion dollars against 18.286 trillion dollars for the United States.

The United States remains the undisputed world leader in terms of GDP at current prices (16.8 trillion dollars), significantly ahead of China (10.4 trillion dollars).