where does china's economy rank in the world
Economy of China The socialist market economy of the People's Republic of China[21] is the world's second largest economy by nominal GDP[1][22][23] and the world's largest economy by purchasing power parity.[24] Until 2015, China was the world's fastest-growing major economy, with growth rates averaging 10% over 30 years.[25][26] Due to historical and political facts of China's developing economy, China's public sector accounts for a bigger share of the national economy than the burgeoning private sector.[27][28] According to the IMF, on a per capita income basis China ranked 71st by GDP (nominal) and 78th by GDP (PPP) per capita in 2016. The country has an estimated $23 trillion worth of natural resources, 90% of which are coal and rare earth metals.[29] China also has the world's largest total banking sector assets of $39.9 trillion (252 trillion CNY) with $26.54 trillion in total deposits.[30][31]