There is a good reason for this. China is the worlds biggest market.
U.S. & WORLD ECONOMIES WORLD ECONOMY
Largest Economies in the World
Why China Is the Largest, Even Though Some Say It's the U.S.
BY
KIMBERLY AMADEO
REVIEWED BY
TOBY WALTERS
Updated December 10, 2020
Julie Bang @ The Balance 2020
For the third year in a row,
China was the world's largest economy in 2019. It contributed $22.5 trillion, or 17.3%, of the world's $130 trillion in
gross domestic product (GDP)
, according to estimates by the World Bank. It uses so-called international dollars to make better comparisons among countries.1
The U.S. was second, with $20.5 trillion, or a 15.8% share. The
European Union was in third place, contributing $19.9 trillion, or 15.3%, of world GDP
. The three combined represented 48% of the world economy.1