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Purchasing power parity

When evaluated at its exchange rate, China may not have eclipsed the US in economic size as previously believed.

Opinion & Features

The wrong way to compare economic size

Purchasing power parity data is subject to volatile revisions and is an unreliable basis for comparison

2026-10-27T10:00:00.000Z

The World Bank now calculates that global spending, across all countries and in a variety of currencies, had a purchasing power of US$174 trillion in 2022, almost US$7 trillion more than its prior estimate for the same year.

Opinion & Features

PERSPECTIVE

Why global GDP might be US$7 trillion bigger than everyone thought

The discovery has perturbed Chinese officials

2024-06-07T13:29:38.000Z

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