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China Becomes Second Biggest World Economy
Posted By admin On July 30, 2010 @ 10:30 am In Money Watch | Comments Disabled
July 30, 2010
China has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.
Depending on how fast its exchange rate rises, China is on course to overtake the United States and vault into the No.1 spot sometime around 2025, according to projections by the World Bank, Goldman Sachs and others.
China came close to surpassing Japan in 2009 and the disclosure by a senior official that it had now done so comes as no surprise. Indeed, Yi Gang, China’s chief currency regulator, mentioned the milestone in passing in remarks published on Friday.
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URLs in this post:
 Reuters: http://www.cnbc.com/id/38482538
 Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502
 China overtakes Japan as world’s second-largest economy: http://www.prisonplanet.com/china-overtakes-japan-as-worlds-second-largest-economy.html
 China could overtake US economy by 2030: World Bank: http://www.prisonplanet.com/china-could-overtake-us-economy-by-2030-world-bank.html
 China Eclipses U.S. as Biggest Trading Nation Measured in Goods: http://www.prisonplanet.com/china-eclipses-u-s-as-biggest-trading-nation-measured-in-goods.html
 How long can America fend off the dragon? China overtakes Japan to become world’s number two economy: http://www.prisonplanet.com/how-long-can-america-fend-off-the-dragon-china-overtakes-japan-to-become-worlds-number-two-economy.html
 Half the world economy – including the UK – is in recession or on the brink of it: http://www.prisonplanet.com/half-the-world-economy-including-the-uk-is-in-recession-or-on-the-brink-of-it.html
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