The latest International Comparison Report produced by the World Bank ranked Malaysia as the world’s 27th largest economy. This puts Malaysia ahead of the Philippines, but behind Indonesia and Thailand, which of course benefit from having much larger populations.
The United States tops the list, followed by China and India. Due to its rapid economic growth, China is set to pass the United States in the next year. However, it should be noted that the report uses purchasing power parity, which means the numbers have been adjusted to recognise the relative cost of living in each country. As China is a much cheaper country than the United States, its numbers come out higher after adjustment. In absolute numbers, however, the United States economy is still well above that of China.
Read more:
