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’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

Topic |   China economy
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’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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