While some will exploit this data for partisan purposes, well this really ain’t it. First, China’s economy was bound to either grow massively or the whole place just fail to develop and resemble the 3rd world. Well communism and undeniable economic & demographic changes have prevented that disaster befalling a billion+ people. I can’t really be sad about that. Say what you will of how they did it-It’s a triumph for them actually.

Did somebody’s pride get bruised? They need to think again. China is surpassing us with a population well over a billion (Wiki 1.363 B) and a rich landmass also far and away larger. A population about fourfold bigger. China is 3,704427 sq. miles. Plus they are a part of or right next door to some very powerful economies, like Hong Kong, Taiwan and Japan. Yes Hong Kong is theirs now but it’s history suggests I include the earlier decades in this perspective. And still runs on different rules.

This is not Obama. Maybe one could argue Nixon set this in motion. IIRC every President past Nixon has been pro trade with China or almost anyone else too. “globalization” is a behemoth, largely immune to any single administration. Even two term admins.

The figures, compiled by the International Comparison Program hosted by the World Bank, are the most authoritative estimates of what money can buy in different countries and are used by most public and private sector organisations, such as the International Monetary Fund. This is the first time they have been updated since 2005.

After extensive research on the prices of goods and services, the ICP concluded that money goes further in poorer countries than it previously thought, prompting it to increase the relative size of emerging market economies.

More: China Poised to Pass US as World’s Leading Economic Power This Year