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China's economy to surpass US in 2016: IMF

04-26-2011 14:31 BJT

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The International Monetary Fund (IMF) predicted that China's economy will exceed the United States' in 2016.

According to IMF's forecast based on "purchasing power parities", China's GDP will rise from $11.2 trillion in 2011 to $19 trillion in 2016, while the US' economy will increase from $15.2 trillion to $18.8 trillion.

Correspondingly, China's share of the global economy will ascend from 14 percent to 18 percent, while the US' share will descend to 17.7 percent.

The Economist predicted on Dec 10, 2010 that China would overtake the US in terms of nominal GDP in 2019.

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