China’s economy has surpassed that of the US to become the largest in the world when based on purchasing power parity. Photo: AFP
China’s economy has surpassed that of the US to become the largest in the world when based on purchasing power parity. Photo: AFP

China overtakes US as No 1 in buying power, but still clings to developing status

  • China’s gross domestic product ranked No 1 in the world in 2017 when based on purchasing power parity, the World Bank says in a new report
  • But the national statistics agency insists China should still not be measured alongside developed countries like the US

China’s economy has surpassed that of the US to become the largest in the world when based on purchasing power parity. Photo: AFP
China’s economy has surpassed that of the US to become the largest in the world when based on purchasing power parity. Photo: AFP
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