China had the largest economy in the world for most of the past two thousand years, during which it has seen cycles of prosperity and decline. As of 2014, China has the world’s second-largest economy in terms of nominal GDP, totalling approximately US$10.380 trillion according to the International Monetary Fund. If purchasing power parity (PPP) is taken into account, China’s economy is the largest in the world, with a 2014 PPP GDP of US$17.617 trillion. In 2013, its PPP GDP per capita was US$12,880, while its nominal GDP per capita was US$7,589. Both cases put China behind around eighty countries (out of 183 countries on the IMF list) in global GDP per capita rankings.

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