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China is Still Number Two. Jeffrey Frankel, May 5, 2014, Opinion. "Headlines around the world this week trumpeted a watershed moment for the global economy. As the Financial Times put it, “China poised to pass US as world’s leading economic power this year.” This is a startling development – or it would be if the claim were not essentially wrong. In fact, the United States remains the world’s largest national economy by a substantial margin..." Link verified June 19, 2014