A report out of the World Bank shows rapidly expanding China is poised to overtake the once invincible United States as the world's largest economy by the end of 2014. The International Comparison Program looks at exchange rates to reveal purchasing power of different currencies and found that yuan in China will soon pack more punch than the mighty dollar. Meanwhile, Chinese officials bashed the report as flawed, likely for fear of losing its status as a developing nation and the pollution-spewing perks that come with it. Don't count on it: The once invincible American dollar will slip behind China's yuan in terms of purchasing power by the end of 2014, according a World Bank report
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A report out of the World Bank indicates that Chinese purchasing power will surpass that of America in 2014
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The International Comparison Program is conducted every six years and accounts for exchange rates as it examines worldwide living standards
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China refused to endorse the findings for fear of losing its designation as a developing nation--and the lax environmental standards that come with it
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The report shows India will charge out of 10th place to take Japan's number 3 spot
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America's economic dominance has lasted since the 1880s
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