China's recent growth has shocked analysts.

This prediction is many years earlier than the next soonest, partly because it relies on Purchasing Power Parity (PPP) instead of only Gross Domestic Product (GDP).  By 2016, China would possess 18 percent of the GDP. The U.S. share would fall from 20 percent to 17.7 percent.

GDP is the total market value of all goods and services produced by a country in a single year. PPP is similar, but it adjusts the totals based on the exchange rate.

Under the PPP measurement, the Chinese economy will rise to $19 trillion from $11.2 trillion by 2016. The U.S. would rise to only $18.8 trillion from $15.2 trillion.

Only 10 years ago, the U.S. economy was three times the size of China’s. 

“I don't think anyone expected China to be able to sustain such high growth rates for so long, but they are doing it,” said Valerie Ramey, an economics professor at University of California, San Diego.

Over the last few years, China has been able to buy out resources, raw materials, and companies around the world as the U.S. has struggled with undeclared wars, bailouts, and out-of-control government borrowing and spending. 

Some argue, however, that China is on the road to disaster after its poorly-planned expansion over the last 10 years, including bad investments in high speed rail and empty shopping malls, reported the New American. 

Some worry that China’s dominance could cause problems for countries worldwide, as the may not be “as nice” as the U.S. has been. The Guardian begs to differ, “It is the United States that invaded Iraq, leading to an estimated million deaths, is occupying Afghanistan, bombing Pakistan and Libya, and threatening Iran.”

But could this change actually be good for the U.S.? The Guardian states that “the vast majority of people in the United States also stand to benefit from a smaller U.S. role in the world, as we transition back to a republic from an empire: less spending on senseless wars, fewer casualties, fewer enemies, less distraction from our real problems at home.”

Ramey offers another option.

“This could be good for the U.S. if China finally allows its currency to float freely against the U.S. dollar because China could become an important market for our exports," she said.

However, something to keep in mind is that even if China claims a bigger economy, the U.S. will still have wealthier individuals.  Ramey said, “Remember that China has 1.3 billion people whereas the U.S. has less than 310 million.  Thus, GDP per person (the key indicator of the standard of living) is still much higher in the U.S.”

Reach reporter Charlotte Spangler here.