China's Economy Broadly Overestimated

The World Bank has recalculated its estimates and finds that earlier measures of China's economy may have been overestimated by as much as 40 percent. That makes a difference when it comes to getting international loans and aid. It also means China is not expected to become the world's largest economy in 2012, as the World Bank had earlier forecast.

Still, China is second to the United States in output and growing rapidly. China, the U.S., Japan, Germany and India are responsible for almost half the world's GDP.

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