China moving ahead by the day.

It has long been clear that China will one day overtake the United States as the world’s largest economy, but new figures released by the World Bank indicate that that could happen as soon as this year.
(The International Monetary Fund, which unlike the World Bank does not take into account the variation in the purchasing power of a single unit of currency between countries, gives that occurrence a longer time frame. In other words, the difference is just a matter of which indicator they are looking at.)
“We still see China at 7.5 and continuing to grow, probably at the slightly reduced pace over time in the next five years or so because the country's developing so much,” Lagarde said.
The fact that Chinese growth will slow, she said, “is not a bad idea, actually, because the focus from the Chinese authorities would be to produce more quality growth than quantity growth.”
“We are not of those that believe that China will have a hard landing,” on the idea that growth will suddenly collapse.
The IMF has a “really solid partnership and dialogue” with the Chinese government, she said, and praised their efforts to focus on domestic consumption, rather than investment and exports, as the engine of the future Chinese economy.