Last year (2014), China overtook the United States in gross domestic product adjusted for purchasing power (GDP-PPP, see point 4 for explanation), according to both the International Monetary Fund (IMF) and the World Bank (Note 1). It may come as a surprise, but this is really a matter of China simply reasserting its position as the world’s largest economy, which it had lost around 1890 to the United States. This is based on estimates developed by the late legendary economist Angus Maddison of the Organization for Economic Cooperation and Development (OECD).
NRG Energy and Google have had the nerve to request the federal government give them money to pay off the loan that the government gave them to help build the Ivanpah Solar Power Plant. The same plant that has underperformed because despite being in a desert, they blame the sun for not shining up to their expected forecasts — forecasts they used to secure the loan. The same power plant that is making flight unsafe for human pilots and killing birds by the truckload.
More than seven billion people now populate Earth, including six billion who live in developing economies. After having already quadrupled in the past century, the world’s population could reach near 9 billion by 2050, according to projections by the United Nations. Half of that growth will come from Africa, which will increase its percentage of world population from 13 to 20 percent.