AlHijjah 14, 1435, Oct 8, 2014, SPA -- China has overtaken the United States in one important but limited metric standard, purchasing power, the International Monetary Fund reported Wednesday. With adjustments in purchasing power parity, or acknowledgement of a lower cost of living in some countries, as well as a currency conversion to dollars, the IMF's World Economic Outlook said China's gross domestic product is now $17.6 trillion, while that of the United States is $17.4 trillion. By those standards, the dollar figures indicate China has 16.48 percent of the world's gross domestic product, while the United States has 16.28 percent. Together, they have nearly a third of the world's gross domestic product. With statistics not adjusted for purchasing power, the United States still leads China by $6.4 trillion.
