IMF: China Could Beat U.S. Economy Year 2016
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China's economy is believed to surpass the United States in 2016. Affairs of China was also going to have a stronger influence to the world economy.
The assessment was raised by the International Monetary Fund (IMF), which was quoted by China Daily, Tuesday, April 26, 2011. According to IMF projections based on "purchasing power parity," the level of gross domestic product (GDP) in China will rise, from $ 11.2 trillion in 2011 to $ 19 trillion in 2016.
The increase of that size would not be achieved by the U.S.. According to IMF projections, the increase in U.S. GDP only rose from U.S. $ 15.2 trillion in 2011 to $ 18.8 trillion in the next five years.
In addition, in the same period, the IMF estimates that China's economic influence on the global level will increase from 14 percent to 18 percent. The increase in U.S. economic influence in the international level only reached 17.7 percent.
According to China Daily, China's economic optimism over the strengthening of the United States is not solely based on projections from the IMF. Influential British magazine, The Economist, on December 10, 2010 states that the value of China's GDP will overtake the U.S. in 2019.
Since last year, China succeeded in shifting Japan as the world's number two economic power. U.S. still occupied the first rank.
Posted by Anggo82
on Friday, May 06, 2011. Filed under