China becomes world's largest economy

China becomes world's largest economy

China has toppled America to become the biggest economy in the world, according to figures from the International Monetary Fund.The latest IMF figures show the Chinese economy is worth $17.61 trillion compared with $17.4 trillion for the U.S.
The global growth projection for 2014 has been marked down by 0.3 percent to 3.4 percent, reflecting both the legacy of the weak first quarter, particularly in the United States, and a less optimistic outlook for several emerging markets. With somewhat stronger growth expected in some advanced economies next year, the global growth projection for 2015 remains at 4 percent.
Oil and Gas Press

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