The Chinese dragon is breathing smoke, not fire

New data predicts China’s economy will overtake the US in purchasing power parity by the end of the year. But there is a vast difference between quantity and quality.

The Economist has published a short but headline-grabbing piece crowning the dragon, which argues the Asian powerhouse is about to overtake the United States as the world’s most pre-eminent economy at the end of this year. That’s five years earlier than the previous prediction by the International Monetary Fund.

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