May
01

Bigger Beijing

According to one measure, later this year China will overtake the US as the world’s largest economy, a spot held by the US since 1872. The measure used is purchasing power parity and it’s highly subjective and assumption laden. Worse, Chinese data can’t be trusted. That said, even using exchange rates the US is only expected to hold the top spot for another decade. Top spot or not, China matters!

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