The world is changing and it is changing fast! According to the International Monetary Fund (IMF), China just overtook the US as the world's largest economy. This comes as a surprise as just few years ago, most economic analysts predicted this will happen around 2020.
By the end of 2014, China will make up 16.48% of the world's purchasing-power adjusted GDP (or $17.632 trillion), and the US will make up just 16.28% (or $17.416 trillion).
So, starting this year, the USA loses the first position FOR THE FIRST TIME since 1872, when they overtook the British economy.
Are we about to face a "new world order"?
Will other emerging economies overtake Europe and USA as well?