3) Japan – GDP: $4.8 Trillion
In the 1970’s Japan was predicted to eclipse the economy of the United States as the largest in the world. Whilst this did not happen, and the same could happen to China, the country is still one of the world’s leading economies. The country has long been praised for the advances it has led in electronics and industry being one of the most technologically advanced countries in the world.
2) China – GDP: $10 Trillion
A shift to a market-orientated economy has seen China become one of the largest economies in the world. It is both the fastest growing economy in the world with average annual growth rates of 10% and the largest exporter in the world. As said at the top of the article if this trend continues China will become the world’s largest economy in the next decade.
1) United States America – GDP: $17.5 Trillion
The United States has long been the world’s largest economy, with one third of the world’s millionaires and 40% of billionaires living in the country. The country is also the world’s largest manufacturer, producing around one fifth of the world’s output in that industry. With an average annual growth rate of only 2.2% the USA is by no means the fastest growing economy, but its certainly the largest!