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Money Makes the World Go ‘Round: An International Comparison of Economic Health GOBankingRates 1 day ago © redmal / Getty Images/iStockphoto Glass globe on variety of banknote. For more than a century, the United States reigned supreme as the largest economy on Planet Earth.  According to the CIA World Fact Book, however, in 2014, after decades of tripling the U.S. growth rate annually, China took the reign at #1 in terms of GDP based on purchasing power parity. Popular Searches These two countries alone dominate the global economy, with a combined 34.5% of global GDP. Still, there wasn’t an economy on Earth that didn’t suffer mightily during the recession created by the coronavirus pandemic of 2020-21. Although things are slowly turning around, even the U.S. still posted a 6.0% unemployment rate as of Mar. 2021, according to the Bureau of Labor Statistics. This is well above the pre-pandemic rate of just 3.5%.

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