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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

Reuters [1]
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.

Full article here [1]

China Becomes Second Biggest World Economy 150410banner7 [2]

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URLs in this post:

[1] Reuters: http://www.cnbc.com/id/38482538

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] China overtakes Japan as world’s second-largest economy: http://www.prisonplanet.com/china-overtakes-japan-as-worlds-second-largest-economy.html

[4] China could overtake US economy by 2030: World Bank: http://www.prisonplanet.com/china-could-overtake-us-economy-by-2030-world-bank.html

[5] 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

[6] 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

[7] 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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