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China as the World’s “Largest Economy” (CRS Report for Congress)

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Release Date Jan. 29, 2015
Report Number IF10110
Report Type In Focus
Authors Wayne M. Morrison
Source Agency Congressional Research Service
Summary:

Various media have recently reported that China has overtaken the United States to become the world’s largest economy (a position the United States had held at least since 1913), based on estimates of purchasing power parity (PPP) measurements and projections made by the International Monetary Fund (IMF). What do these data mean? How should they be interpreted? And what implications, if any, do they have for the United States?