Size matters, but so does how it is calculated

Economy | Zheng Yangpeng

China has overtaken the United States as the world's largest economy this year, according to the International Monetary Fund's latest estimate. But unlike four years ago, when China eclipsed Japan as the world's second-largest economy, this time the news sparked muted reaction and doubts.

Measuring GDP using purchasing power parity, the IMF estimated China's GDP at $17.6 trillion, against $17.4 trillion for the US, ending the latter's position at the top that it held since 1872.