China's Economy Now Larger Than The United States Based On Purchasing Power

I came across the interesting chart below today at Business Insider showing that based on the IMF's purchasing power index China has just crossed over the United States as the world's largest economy (GDP).

While the U.S. is still far larger based on nominal GDP, the actual wealth of the economy using a combination of market-exchange terms and purchasing power is now greater in China. 99% of the citizens in the United States are running on a treadmill or walking through quicksand in terms of real wealth, while they are shown a rising stock market every afternoon on the news.