China overtakes Japan as No.2 economy: FX chief

07-30-2010 • Reuters

China has overtaken Japan to become the world's second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Depending on how fast its exchange rate rises, China is on course to overtake the United States and vault into the No.1 spot sometime around 2025, according to projections by the World Bank, Goldman Sachs and others.

2 Comments in Response to China overtakes Japan as No.2 economy: FX chief

Comment by Mike Chavez

Entered on: 7/31/2010 11:53:05 AM

The "people" out of poverty???

The Chinese "people" own nothing. The Chinese government owns all and allows the people to use the resources as it sees fit. There are no poorer people than those under statist regimes.

Comment by Lucky Red

Entered on: 7/30/2010 3:45:28 PM

Yeah, not to mention that it's the biggest creditor to the US. Although I'm not sure that holding such a "privilege" is a great thing.

Make a Comment (2) • Email Link • Send Letter to Editor