China may be the biggest economy, but not the best

According to new data from the World Bank, Asia's developing economies appear to be even more powerful than previously thought. As measured by purchasing power parity, China's gross domestic product now seems poised to overtake America's as the world's biggest as soon as this year. India has leapfrogged into third place, while Indonesia rounds out the top 10. Predictably, headlines around the region are crowing about the beginning of the long-awaited Asian Century.

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