CrYsIs
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According to IHS report China has already overtaken US in GDP PPP and is destined to overtake USA by 2024 in nominal value with a GDP of 28 trillion $ against 27 trillion $ of the US.
China was previously expected to overtake US only by 2028,but the new estimate suggests that it will happen within just 10 year time.This is partly due to China's shift towards a domestic consumption based economy from an export oriented economy.
China was previously expected to overtake US only by 2028,but the new estimate suggests that it will happen within just 10 year time.This is partly due to China's shift towards a domestic consumption based economy from an export oriented economy.