Comparing the United States and China by Economy

The United States and China are the two largest economies globally in both Nominal and PPP methods. US is at the top in nominal, whereas China is at the top in PPP since 2017 after overtaking the US. As of 2021, both countries together share 41.89% and 34.75% of the entire world's GDP in nominal and PPP terms, respectively. The GDP of both countries is higher than the 3rd ranked country Japan (nominal) and India (PPP) by a huge margin. Therefore, only these two countries compete to become first.
As per projections by IMF for 2022, the United States is leading by 1.36 times on an exchange rate basis. The economy of China is 1.18 times of the US on purchasing power parity basis. According to estimates by World Bank, China's GDP was approx 11% of the US in 1960, but in 2019 it is 67%. Due to the vast population of China, more than four times of US population, the difference between these two countries is very high in terms of per capita income. The Per capita income of the United States is 5.78 and 3.61 times higher than that of China in nominal and PPP terms, respectively. The US is the 5th richest country in the world, whereas China comes at 63rd rank. On a PPP basis, The United States is in 8th position, and China is in 76th. China attains a maximum GDP growth rate of 19.30% in 1970 and a minimum of -27.27% in 1961. During the period 1961 to 2019, China grew by more than 10% in 22 years. The United States reached an all-time high of 7.24% in 1984 and a record low of -2.54% in 2009. The GDP growth rate was negative for eight years in the US. China showed negative growth in four years.
According to World Factbook, China is ahead of the US in Agriculture and Industry sectors. The agriculture output of the United States is only 17.58% of China's and 77.58% for the Industry sector. The services sector of the US is more than double of China.