News Snapshot:
The world is waking up to a new reality post the devastating pandemic that brought everything to a grinding halt. One of them is the rise of China as the undisputed new economic superpower. According to the IMF’s World Economic Output 2020 released recently, China has now overtaken the US to become the world’s largest economy. Yes, you read that right. The International Monetary Fund (IMF), using the more reliable and now widely accepted yardstick, called the Purchasing Power Parity (PPP), has determined China’s economy at US$24.2 trillion compared to America’s US$20.8 trillion. The PPP calculation method used by the...
