China to Surpass USA in ’16
04/27/2011 | | China, econ70.com, Elliot's Brief Blog, GDP, Graphsandlaughs.net, IMF, Purchasing Power Parity, Undervalued Currency, USA, World's Biggest Economy
27 The IMF has determined that China’s economy will surpass ours in 2016 – in 5 years! Many have said it will happen in the mid 2020s; they are wrong. 1) The Chinese currency is massively undervalued. 2) Using Purchasing Power Parity (PPP) which measures what people spend and earn in their own currencies China will grow from $11.2 trillion today to $19 in ’16 while we will rise from $15.2 to $18.8.