China is the world's largest economy for 2018 years or more

Crystal News (reporter Yu Yanjun) A study published yesterday by PwC shows that the global financial crisis has accelerated the shift of economic power to emerging economies, and that if gross domestic product is measured at purchasing-power parity (PPP) terms, China could overtake the US as the world's largest economy by 2018.　　The findings are the latest in a series of reports on the theme "2050 years of the world" at PwC. GDP at purchasing power parity can better measure the relative quantity of goods and services produced by each economy and the relative living standards (per capita).　　The study therefore adjusts for lower prices in emerging economies to measure GDP at purchasing power parity. The comparison shows that the economic power of emerging economies E7 (China, India, Brazil, Russia, Mexico, Indonesia, Turkey) is likely to surpass the G7 (US, Japan, Germany, UK, France, Italy, Canada) more than 2020 years ago.　　Among them, China will overtake the US as the world's largest economy in 2018. The report argues that this trend will not change as long as there are no catastrophic political or environmental events that disrupt existing development paths. China's growth rate will slow after 2020 years, but China will still be the world's biggest exporter.　　In the economic growth rate, with its young and fast-growing workforce, India's economy is growing faster than China's in the next 10 years. "The population of China and India is expanding, and many of them will regain their global dominance 2050 years ago," said John Hawksworth, chief economist at PwC. The temporary transfer of power is now being reversed as the global economic power shifted from Asia to Europe and the United States in late 18th century and early 19th century. ”