Despite World Bank figures, the US remains far ahead of China in the metric that counts
The World Bank’s International Comparison Program has just liberated its latest measures of price levels and GDP across 176 countries- and the results are striking. For the first time, the ICP finds that China’s total real( inflation-adjusted) income is slightly larger than that of the US. In purchasing power parity( PPP) terms, China’s 2017 GDP was $19.617 tn( PS15. 7tn ), whereas the US’s stands at $19.519 tn
Of course, when China’s total income is divided among its massive population, the picture alters. Although China’s per capita income has pulled ahead of Egypt’s, it remains in the middle of the battalion globally, behind Brazil, Iran, Thailand and Mexico.
Read more: theguardian.com