WASHINGTON, April 30 (UPI) -- China is poised to overtake the United States as the world’s largest economy, a report by the World Bank’s International Comparison Program said, with India in third place, ahead of Japan.
The report, released Wednesday, assessed economies based on purchasing power parity (PPP), an estimate of real living costs. The research indicates that, as of 2011, China’s gross domestic product was 87 percent that of the United States, compared to 43 percent in 2005.