China overtakes U.S. as world's largest economy

The International Monetary Fund has said that China has overtaken the Unites States for the first time as the largest economy in the world.

According to Fox News, the U.S. has been overtaken as the largest economy for the first time in decades.

The IMF recently released the latest numbers for the world economy, stating that China will produce 17.6 trillion dollars and the U.S. would produce 17.4 trillion dollars in terms of goods and services.

According to the IMF website, each country's statistics must be converted into common currency to compare data and the result may vary in different answers.

However, China's economy may be the world's largest not but is still not the richest as per head GDP is less than a quarter of U.S. levels.