(BrightCitizen.com) It’s official, the United States economy is no longer the largest in the world. The BBC reported in April 2014 here. The British news reported-
With annual GDP growth rates of 9-10% for 30 years, China has quickly become the second largest economy in the world, overtaking all but the United States.
Now here in December it’s come to pass. MarketWatch reported.
There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.
Will America continue to decline economically or can it get adept leadership to revitalize the nation? The International Monetary Fund (IMF) recently released the latest numbers for the world economy. And when one measures national economic output in “real” terms of goods and services, China will this year produce $17.6 trillion that’s compared with $17.4 trillion for the United States.