There are just a few days to go before 2014 comes to an end, and this is also the year that America lost its over-140 year dominance as the world’s biggest economy, the title it took from Britain in 1872.<br /><br /> China’s GDP, based on the IMF’s Purchasing Power Parity figures, surpassed America’s for the first time, and despite slowing growth there still managed to add 20% to GDP in the two years since 2012. It is a growth rate no other top 10 nation can match. Britain now holds last place in that club, and has been overtaken by Indonesia.<br /><br /> China is now worth some 14.4 trillion euros a year, while the USA is worth a little over 14. It’s not much of a difference, but the trend is pointing clearly at a widening gap in coming years.
