China heads Japan to become worlds 2nd largest economy

[Skylar1]

(CNN) -- 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.

http://edition.cnn.com/2010/BUSINESS...IuzJ&wom=false

Not too big of a surprise, China's economy growth rate has been increasing extremely rapidly in recent decades.

Also, BRICwiki (which stands for Brazil, Russia, India, and China) is highly relevant to this discussion. As they are projected by economist to become the main power-house source in the first half of the 21st century.

your thoughts?

[Vyndrasta]

No surprise their either, well to me in that case.
I think majority of the American population is not too keen on this subject, after all we've been the "power-house" for so long and giving
up on this glory is taking a big hit. We'll see what happens in the long run, but for me to care more about this - is how will this affect me
and the stability of my job in the future? That's all I'm thinking about. I'm not going to full elaborate explanation.

[Eris]

The article is wrong. The IMF lists the EU as biggest of 2009. The US is the biggest economy that is a country, but not the biggest economy.


Anyway, this illustration is of the IMF figures from 2008, and they really show how far Japan and China have to go to compete with the US and EU.

[DOOM!]

This is relevant, I'm in the 8th most richest (yeah right, as if) state in the world and along with the other citizens we are still relatively poor.

[Alcmaeonid]

This is relevant, I'm in the 8th most richest (yeah right, as if) state in the world and along with the other citizens we are still relatively poor.

These numbers aren't per capita. The average Chinese person is still pisspoor, and Italy isn't too high up there either.

[Vyndrasta]

...yet there's ALWAYS someone that needs to be pisspoor in every country. WTH is my gov't doing with all that money? @_@

[DOOM!]

That's just it, what's the point in being a proud citizen of a rich country if all it's riches belong to government/enterprise/politician's-pockets affairs and citizen lifestyle is kept below status quo?

[Furore]

There is no point!
Move to a country with a higher score on the human development index if it irks you enough.

[3pleT]

There is no point!
Move to a country with a higher score on the human development index if it irks you enough.

Except it's kinda flawed. See, I've been to Switzerland and decided that it's the only country I would never ever live in out of about 20 countries I've actually got to see how people live in, yet they ranked it 9. All they rate is GDP per capita, life expectancy, education and employment.
Then again, it could be worse, like that happiness index, where they tested people's happiness by simply asking them if they're happy. Or the freedom index, where they don't even visit the country in question.

[Alcmaeonid]

Except it's kinda flawed. See, I've been to Switzerland and decided that it's the only country I would never ever live in out of about 20 countries I've actually got to see how people live in, yet they ranked it 9. All they rate is GDP per capita, life expectancy, education and employment.
Then again, it could be worse, like that happiness index, where they tested people's happiness by simply asking them if they're happy. Or the freedom index, where they don't even visit the country in question.

u mad cos serbia dun scored low

[Rei]

There's always an ever-widening gap between the poor and rich, especially in developing countries.

Like a country can have a high GDP but lots of piss-poor people on the streets. And then you find out that all the wealth and income is concentrated on a small amount of the population. It's always there, unless they come up with a permanent solution. That isn't gonna happen in the next ten years.

[3pleT]

u mad cos serbia dun scored low

Not really. I'm aware of the existence of Gypsies who intentionally refuse to go to school, find real jobs, and die of liver disease or lung cancer in their 40s. If they don't count those and push the anti-corruption laws a little bit harder, we may be in top 30 by this criteria.
Still, I kinda like these Gypsies, after I saw those was-guckst-du Turks and Albanians in the German-speaking world.

Anyway, if I was to choose my favorite place to live in, it would probably be Slovenia: mentality and benefits of Serbia injected into the western world.

[Sottaceti]

This is wrong, Dethklok is the world's 2nd largest economy.

[-GAZKUL-]

Woo hoo Go EU!!!!

[miniPhil]

Anyway, this illustration is of the IMF figures from 2008, and they really show how far Japan and China have to go to compete with the US and EU.

But the only reason Japan is so low down in comparison to Europe is because they have to spend so much money on repairs whenever a giant monster attacks their cities. Europe has a natural handicap because its not threatened by Godzilla.

[-GAZKUL-]

when you take into account the huge differences in population China isn't doing that well. Britain's 61 million to China's 1.4 Billion for comparison