CHINA TO PUSH ASIDE JAPAN AS NO. 2 ECONOMY
Chris Isidore
Chris Isidore
CNNMoney, February 11, 2010
NEW YORK (CNNMoney.com) -- China is likely to soon overtake Japan to become the world's second largest economy, a milestone that will only fuel growing fears about the economic might of the world's largest country.
China's economy grew by 8.7% in 2009, even in the face of a global economic slowdown. Japan, which will report its full-year numbers on Feb. 14, is expected to slip behind China due to the steep decline in its economy in the first half of last year.
Both China and Japan are likely to end the year with a gross domestic product, the broadest measure of economic activity, of just over $5 trillion. To put that in context, that's only a little more than a third of the size of the U.S. economy.
But with its huge population edge on the United States, many economists believe it is inevitable that China will eventually overtake the United States -- even if it takes another 20 or 30 years.
"It's kind of like the U.S. and Great Britain 125 years ago. Given how much larger we were, it was only a matter of time before we caught them," said Jay Bryson, global economist for Wells Fargo Securities. "And it's only a matter of time before they catch us."
(...) [artículo aquí]
NEW YORK (CNNMoney.com) -- China is likely to soon overtake Japan to become the world's second largest economy, a milestone that will only fuel growing fears about the economic might of the world's largest country.
China's economy grew by 8.7% in 2009, even in the face of a global economic slowdown. Japan, which will report its full-year numbers on Feb. 14, is expected to slip behind China due to the steep decline in its economy in the first half of last year.
Both China and Japan are likely to end the year with a gross domestic product, the broadest measure of economic activity, of just over $5 trillion. To put that in context, that's only a little more than a third of the size of the U.S. economy.
But with its huge population edge on the United States, many economists believe it is inevitable that China will eventually overtake the United States -- even if it takes another 20 or 30 years.
"It's kind of like the U.S. and Great Britain 125 years ago. Given how much larger we were, it was only a matter of time before we caught them," said Jay Bryson, global economist for Wells Fargo Securities. "And it's only a matter of time before they catch us."
(...) [artículo aquí]
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