News Desk. China has remained at second place in the ranking of world economies for the last 16 years. In 2010, China became the world's second largest economy, surpassing Japan. Since then, its economic strength has increased significantly, but it has not been able to leave America behind and reach the first position.
What is the difference between America and China?
According to the given data, America's GDP is around $32.38 trillion, while China's economy is around $20.85 trillion. In the year 2010, China's GDP was about 6.19 trillion dollars, which has now almost tripled. During this period, the American economy has also almost doubled.
India's economy also took a huge leap
India has also improved its global ranking in the last two decades. India was at 13th position in the year 2000, whereas it reached ninth position in 2010 and seventh position in 2015. In the given figures, India has been described as the sixth largest economy. India's GDP growth rate this year is estimated to be 7 percent, which is considered to be the fastest among major economies.
France slipped, Russia jumped
France, on the other hand, was ranked fifth in 2000 but is now ranked seventh. Russia has made significant progress during this period, moving from 21st to ninth place.
In fact, China's economy has expanded rapidly, but it still has a long way to go to overtake America. At the same time, the changing ranking of other economies including India shows the changes taking place in the global economic picture.