15 Largest Economies in the World Ranked by 2015 PPP

1. China

Projected 2015 GDP growth: 6.8%
GDP based on PPP valuation (in billions of dollars): 19,510

Since 1978 when economic reforms were put into place, China has become one of the largest and fastest-growing economies of the world, and in 2014, the largest economy based on PPP valuation and the second-largest by nominal GDP. Because of this rapid growth, only 10% of its population of more than 1.3 billion people lives below the poverty line, a significant difference from 1978 when up to 64% of its population was living in poverty. The cheap labor costs, high productivity of laborers and a well-developed infrastructure have been the basis of China’s rapid economic growth and development.