China’s back
This week the International Monetary Fund updated its data on the world economy. For the first time it ranks China’s economy as the world’s biggest in purchasing-power-parity terms. Historians, though, point out that China is merely regaining a title that it has held for much of recorded history. In 1820 it probably produced one-third of global economic output. The brief interlude in which America overshadowed it is now over.
This article appeared in the Finance & economics section of the print edition under the headline "China’s back"
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