According to the IMF, the European Union has the largest GDP, worth $15.8 trillion, followed by the United States with $15 trillion, China with $11.3 trillion, and India now narrowly ahead of Japan, with $4.458 trillion against $4.44 trillion. In per capita terms, of course, the U.S. and Japan are far ahead of the two Asian giants: U.S. (sixth in the world), $48,387; Japan (24th), $34,740; China (92nd), $8,382; India (129th), $3,694 (all in PPP).
These are all measured in so-called Purchasing Power which is a concept somewhat unfamiliar to me.
A recent full article in Japan Times predicts that before mid-century Japan will be only the world’s 9th largest economy. I had predicted on this blog that Japan would be out of the top ten by the end of the century. A mere 88 years off now!