China's economy out produced
Japan's and became the world's 2nd largest in Q2. China's Q2 GDP was
$1.33 trillion versus Japan's $1.28 trillion.
Just 5 years ago China's GDP was half of Japan's.
China passing Japan has been widely anticipated for some time. But the actual event is still a milestone and shows the growing importance of China in world economic and political affairs. It also shows The growing economic role the developing world in general is playing.
According to a New York Times article on China, many economic forecasters have China passing the U.S. and becoming the world's largest economy as early as 2030.
Just 5 years ago China's GDP was half of Japan's.
China passing Japan has been widely anticipated for some time. But the actual event is still a milestone and shows the growing importance of China in world economic and political affairs. It also shows The growing economic role the developing world in general is playing.
According to a New York Times article on China, many economic forecasters have China passing the U.S. and becoming the world's largest economy as early as 2030.
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