Quality rather than size
By Wang Kan | China Daily | Updated: 2014-10-13 07:22
Even if China's GDP does exceed that of the US one day, its per capita GDP and average income will still lag behind
According to a recent report by the International Monetary Fund, China's estimated GDP for 2014, if calculated at Purchasing Power Parity, is $17.6 trillion, higher than the $17.4 trillion of the United States. In other words, China will replace the US as the largest economy in the world.
That aroused hot discussion among Chinese media and netizens. Actually, in discussing the issue, we need to know the calculation method first.
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