I did not expect them to start ruling us so quickly, but hey, who is complaining?
China is poised to leapfrog the US as the world’s largest economy, while Australia is the fourth-most expensive country to live in, according to data released by the World Bank.
The bank's 2011 International Comparison Program survey, released overnight, showed only Switzerland, Norway and Bermuda had higher price level indexes than Australia in that year.
Based on the survey, one of the world’s most respected publications, The Economist, has calculated China is on track to overtake America’s share of global GDP by the end of this year - far earlier than previously dominant predictions centering on a shift later in this decade.
The bank's 2011 International Comparison Program survey, released overnight, showed only Switzerland, Norway and Bermuda had higher price level indexes than Australia in that year.
Based on the survey, one of the world’s most respected publications, The Economist, has calculated China is on track to overtake America’s share of global GDP by the end of this year - far earlier than previously dominant predictions centering on a shift later in this decade.
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