Here's another way of looking at it -- China's share of the global economy is now slightly bigger than America's, at 16.5 percent to 16.3 percent:
And that has something to do with the fact that China is manipulating its currency to be worth much less than the dollar. It does this to help make Chinese stuff cheaper than U.S. stuff on the global market. American politicians regularly pretend to be super angry about this, but don't much mind getting all the cheap Chinese stuff. And China's booming factory sector has, in turn, helped make China's economy rapidly get bigger and bigger.
In terms of sheer size, however -- meaning, not adjusted for costs of living -- the U.S. economy still dwarfs China's, at $17.4 trillion to $10.4 trillion:
source: huffingtonpost.com By Mark Gongloff