China is Number ONE!!!
China's economy has now surpassed the U.S. economy, according to a calculation by the International Monetary Fund (IMF).
The IMF calculation is based on purchasing power rather than GDP. In terms of GDP (the usual calculation method), America's economy is still number one. But since China's cost of living is much lower than that of the U.S., China has greater purchasing power.
Oh well, we knew this day was coming.
Labels: China's economy purchasing power, IMF, International Monetary Fund
posted by Tom Harper @ 10:58 AM
2 Comments:
And nobody has helped China more than America's CEOS.
Jim: Yup, they make a good team.
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