China Overtakes Japan as World's Second-Largest Economy

    By Hugh Collins
    Posted 6:36AM 08/16/10 Posted under: Economy, Investing
    China overtook Japan as the world's second-largest economy as the recovery in some of the major economies looks increasingly shaky.

    Japan's gross domestic product grew just 0.4% in the second quarter, the Associated Press reported. The figure suggests that China's economy, which is expected to grow by 10% this year versus Japan's rate of 2%-3%, will be larger at the end of 2010.

    Japan's nominal GDP, not adjusted for price and seasonal variations, was $1.268 trillion in the second quarter, while China's was $1.335 trillion. Japan has held the position of world's second-largest economy since 1968, when it pulled ahead of West Germany.

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    Tagged: asia, china, china overtakes japan, economy, Japan

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    nanjimlom

    The biggest reason for their success is that their economy is managed by a Socialist system which has little regard for the freedoms of its citizens, but perhaps distributes the wealth to upgrade the standard of living for everyone.

    August 17 2010 at 8:33 AM Report abuse rate up rate down Reply
    hattie54

    We can also stop buying products made in China.I try my hardest to find things not made in Communist China.

    August 16 2010 at 6:31 PM Report abuse +1 rate up rate down Reply
    raptor439

    Thank Bill Clinton for this.

    August 16 2010 at 4:34 PM Report abuse +2 rate up rate down Reply
    wsbelectr

    Perhaps the worlds largest economy could stop buying everything from China. That might slow their growth down, and certainly help ours.
    http://www.examiner.com/crime-in-orlando/w-scott-bowlin

    August 16 2010 at 2:38 PM Report abuse +1 rate up rate down Reply
    sfamilyent

    At their present rate of growth, it shouldn't be long before China has the largest economy in the world - and they don't need to manipulate the value of their currency in order to get there. As they add manufacturing and production, add jobs, increase wages, and increase consumption; their economy in terms of GDP will rise accordingly. They could reach the number one position by simply concentrating on production for their domestic market.

    August 16 2010 at 7:40 AM Report abuse +2 rate up rate down Reply