Homework Answers
According to the reports of Standard Chartered Bank, china will undertake the US economy by the end of this year i.e. 2020 in terms of nominal GDP using PPP exchange rates. The statistics released by IMF, OECD, Standard Chartered Research says that nominal GDP of US and China are as follows:
| Country | 1990 | 2000 | 2010 | 2020 | 2030 |
| United States | 5.9 | 10.2 | 14.9 | 22.2 | 31.0 |
| China | 1.1 | 3.7 | 12.4 | 29.9 | 64.2 |
we see that by 2020, GDP of China has surpasses that of US.
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