Serious Arithmetic Problems at the NYT

It seems the folks at the NYT are having a hard time accepting that the United States has been surpassed by China as the world's largest economy. That is the implication of the latest measures of purchasing power parity  (ppp) GDP from the World Bank. (If one adds in the GDP of Hong Kong and Macao, which are both under China's control, its GDP is already larger than that of the United States.)

Rather than accept the standard measure economic output among economists, the NYT found one to...