It's official: America is now No. 2

``There's no easy way to say this, so I'll just say it: We're no longer No. 1. Today, we're No. 2. Yes, it's official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet... This latest economic earthquake follows the development last year when China surpassed the U.S. for the first time in terms of global trade.''