(News Today) - China appears on track to pass Japan and become the world's second-largest economy after the United States, figures released Monday show.
Japan's gross domestic product, or GDP, totaled $1.29 trillion for the three months ending in June, the nation's Cabinet Office announced. China's official figure for the same period was $1.34 trillion.
GDP is a broad measure of a country's economic output.
Economist Frederic Neumann at HSBC in Hong Kong said China is forecast to overtake Japan by the end of the year, noting official annual figures won't come until early 2011.
For 2009, the International Monetary Fund listed the United States as the world's largest economy at $14.26 trillion, followed by Japan at $5.07 trillion and China at $4.91 trillion.
Source : CNN
Friday, August 20, 2010
China poised to pass Japan as world's No. 2 economy
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