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China: Second-Largest Economy

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China overtakes Japan as world's second-largest economy

Monday 16 August 2010 18.06 BST

China overtook Japan as the world's second-largest economy during the second quarter of this year, marking another milestone in the country's transformation from impoverished communist state to economic superpower.

With its red-hot economy growing at around 9% a year, some experts now expect China to outstrip the United States as soon as 2030, its financial strength carrying broad political implications.

Official data published today showed a faltering Japanese economy growing by just 0.1% in the three months to June, with GDP of $1.28tn (£826bn) eclipsed by China, which had economic output of $1.33tn.Although it is not the first time China has outpaced Japan in a single quarter, most economists now expect the emergent economy to end the year firmly ahead.

more:

http://www.guardian.co.uk/business/2010/aug/16/china-overtakes-japan-second-largest-economy1

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It's all those corner Chinese restaurants and laundries/dry cleaning shops in the mall. I just knew their ubiquitiousness had a sinister undertone to it.

They've been sleeper cells which will now collect tribute from all of us!!

OK, huawei, shoot me...I DON'T care. :P

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It's because of those three magic words we see on almost all our products: Made In China.

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But the GDP per capita of China is still not good... I think the secret of the GDP size of China is directly linked to its huge population.

In same way, that explain why Brazil is expected to be the fifth biggest economy of the world in 2015... But Brazil's GDP per capita is much better than chinese.

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It's because of those three magic words we see on almost all our products: Made In China.

:D At prices we can all afford!!! :D

Go China!

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:huh: Unless something drastic happens...I believe USA and China will equalise in the 2020s, Japan will become a partner to Germany and UK as the second tier powerhouses which will then be eclipesed by India at the end of that decade.

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According to Goldman Sachs, this will be the economic World (biggest nominal GDPs) in 2050...

1. China - US$ 70tn

2. USA - US$ 38 tn

3. India - US$ 37 tn

4. Brazil - US$ 13 tn

5. Mexico - US$ 9 tn

6. Russia - US$ 8 tn

7. Indonesia - US$ 7tn

8. Japan - US$ 6 tn

9. UK - US$ 5 tn

10. Germany - US$ 5 tn

It will be very interesting to see how this new World order will work.

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According to Goldman Sachs, this will be the economic World (biggest nominal GDPs) in 2050...

1. China - US$ 70tn

2. USA - US$ 38 tn

3. India - US$ 37 tn

4. Brazil - US$ 13 tn

5. Mexico - US$ 9 tn

6. Russia - US$ 8 tn

7. Indonesia - US$ 7tn

8. Japan - US$ 6 tn

9. UK - US$ 5 tn

10. Germany - US$ 5 tn

It will be very interesting to see how this new World order will work.

It's always interesting to see how this kind of ranking never holds an resemblance to a list on quality of life.

GS is spot on with regards to India, Brazil and Indonesia. The manufacturing capaicty in Indonesia and India is huge. Brazil benefits largely from primary resources.

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Brazil benefits largely from primary resources.

True, when we talk about Brazilian trade balance, but this is not major in Brazilian GDP.

The sucess history of Brazil is: internal market. Which is good.

This made Brazil pass throughout the economic crisis without being really affected...

The service sector is the largest component of GDP at 66.8%, followed by the industrial sector at 29.7% (2007 est.). Agriculture represents 3.5% of GDP (2008 est.). Brazilian labor force is estimated at 100.77 million of which 10% is occupied in agriculture, 19% in the industry sector and 71% in the service sector.

89% of Brazilians lives in urbans area...

Source: http://en.wikipedia.org/wiki/Economy_of_Brazil

=]

The manufacturing capaicty in Indonesia and India is huge.

In Brazil too, of course, less than India or Indonesia.

Brazil has the second biggest and the third most advanced industrial sector in The Americas. Accounting for one-third of GDP, Brazil's diverse industries range from automobiles, steel and petrochemicals to computers, aircraft, and consumer durables.

Today Brazil is the 4th biggest market of cars in the world but with one little detail. Few rich Brazilian does buy imported cars. Almost all the cars we have are manufactured here or in Mercosur countries.

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