China surpasses US to become world's largest economy

December 5, 2014

Beijing, Dec 5: The US is no longer the world's largest economy, as China has overtaken the country, the International Monetary Fund (IMF) says.

China now sits atop the world's economic perch, according to the IMF, which released the latest numbers for world economies by measuring purchasing power parity (PPP).

By the end of 2014, China's economic output will amount to $17.6 trillion, and the US will be demoted to the second place with a mere $17.4 trillion of output.

The Financial Times also said China's growth means it now accounts for 16.5% of the global economy in real purchasing power terms, compared to the 16.3% for the US.

The US was the world's largest economy since 1872, when it overtook Britain.

The IMF projected in early October that China's economy will be 20 percent bigger than that of the US by 2019.

China remains the biggest foreign holder of US government debt, holding an estimated $1.27 trillion in US Treasury bonds.

Earlier this year, China and Russia agreed to a measure to undercut the domination of the US dollar as the international reserve currency by paying each other in domestic currencies.

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In meeting with Zohran Mamdani, Trump repeats claim he stopped India-Pak war

Agencies

November 22,2025

New York/Washington: US President Donald Trump has again claimed to have solved the conflict between India and Pakistan, repeating his assertion during a meeting with New York City Mayor-elect Zohran Mamdani in the Oval Office.

Mamdani flew to Washington DC for his first meeting with Trump in the White House on Friday. Trump said he “enjoyed” the meeting, which he described as “great.”

During remarks in the Oval Office, with Mamdani standing next to him, Trump repeated his claim that he solved the May conflict between India and Pakistan.

"I did eight peace deals of countries, including India and Pakistan,” he said.

On Wednesday, Trump had said he threatened to put 350 per cent tariffs on India and Pakistan if they did not end their conflict, repeating his claim that he solved the fighting between the nuclear-armed neighbours and that Prime Minister Narendra Modi had called him to say “we're not going to go to war.”

Since May 10, when Trump announced on social media that India and Pakistan had agreed to a “full and immediate” ceasefire after a “long night” of talks mediated by Washington, he has repeated his claim over 60 times that he “helped settle” the tensions between India and Pakistan.

India has consistently denied any third-party intervention. India launched Operation Sindoor on May 7, targeting terror infrastructure in Pakistan and Pakistan-occupied Kashmir in retaliation for the April 22 Pahalgam attack that killed 26 civilians. India and Pakistan reached an understanding on May 10 to end the conflict after four days of intense cross-border drone and missile strikes.

Mamdani emerged victorious in the closely-watched battle for New York City Mayor, becoming the first South Asian and Muslim to be elected to sit at the helm of the largest city in the US.

He had been the front-runner in the NYC Mayoral election for months and defeated Republican nominee Curtis Sliwa and political heavyweight former New York State Governor Andrew Cuomo, who ran as an independent candidate and was officially endorsed by Trump just hours before the elections.

Indian-descent Mamdani is the son of renowned filmmaker Mira Nair and Columbia University professor Mahmood Mamdani. He was born and raised in Kampala, Uganda and moved to New York City with his family when he was 7. Mamdani became a naturalised US citizen only recently, in 2018.

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