China vs. USA Economic Growth--NYTimes

New York Times: China vs USA Economic Growth

China's economy is growing more rapidly than the U.S, in dollar terms. 

Numbers?: 

• China: Grew 7.7 percent last year (after adjusting for inflation)
• United States: Grew 2 percent last year (expected to announce on Jan. 30)

How? 

• Faster real economic growth
• Faster Inflation (good for Chinese Export Economy)
• Appreciating currency (renminbi) 

NYT: "China’s economic growth figures released Monday morning may show a slowdown, but they still indicate that China is growing almost four times as fast as the United States in dollar terms, rapidly closing the gap in the size of the two countries’ economies.

...China’s economy more than quintupled in dollar terms from 2003 to 2013, to $9.2 trillion last year — still a little more than half the size of the American economy, but catching up fast."

Some implications: . A reduction in the program to $65 billion a month from the current $75 billion could be announced at the end of the Jan. 28-29 meeting, which would be the last meeting for outgoing Chairman Ben Bernanke." Jon Hilsenrath inThe Wall Street