where does china's economy rank in the world
Economy of China The socialist market economy of the People's Republic of China[21] is the world's second largest economy by nominal GDP[1][22][23] and the world's largest economy by purchasing power parity.[24] Until 2015, China was the world's fastest-growing major economy, with growth rates averaging 10% over 30 years.[25][26] Due to historical and political facts of China's developing economy, China's public sector accounts for a bigger share of the national economy than the burgeoning private sector.[27][28] According to the IMF, on a per capita income basis China ranked 71st by GDP (nominal) and 78th by GDP (PPP) per capita in 2016. The country has an estimated $23 trillion worth of natural resources, 90% of which are coal and rare earth metals.[29] China also has the world's largest total banking sector assets of $39.9 trillion (252 trillion CNY) with $26.54 trillion in total deposits.[30][31]
Economy of the United States The economy of the United States is a highly developed mixed economy.[27][28] It is the world's largest economy by nominal GDP and the second-largest by purchasing power parity (PPP).[29] It has the world's seventh-highest per capita GDP (nominal) and eleventh-highest per capita GDP (PPP) in 2016.[30][31] The U.S. dollar is the currency most used in international transactions and is the world's foremost reserve currency, backed by its science and technology, its military, the full faith of the U.S. government to reimburse its debts, its central role in a range of international institutions since World War II and the petrodollar system.[32][33] Several countries use it as their official currency, and in many others it is the de facto currency.[34][35] Its largest trading partners are China, Canada, Mexico, Japan, Germany, South Korea, United Kingdom, France, India and Taiwan.[36]