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]
South Asia India is the largest & fastest growing economy in the region (US$2.180 trillion) and makes up almost 82% of the South Asian economy; it is the world's 7th largest in nominal terms and 3rd largest by purchasing power adjusted exchange rates (US$8.020 trillion).[217] India is the only member of powerful G-20 major economies and BRICS from the region. It is the fastest growing major economy in the world and one of the world's fastest registering a growth of 7.3% in FY 2014â€“15. Pakistan has the next largest economy($250 billion) and the 5th highest GDP per capita in the region,[218] followed by Bangladesh and then by Sri Lanka which has the 2nd highest per capita and is the 4th largest economy in the region. According to a World Bank report in 2015, driven by a strong expansion in India, coupled with favorable oil prices, from the last quarter of 2014 South Asia become the fastest-growing region in the world[219]