China may overtake Japan as the world’’s second largest economy in 2010

March 10th, 2009 - 3:11 pm ICT by ANI  

Beijing, Mar 10 (ANI): A research paper issued by the China Policy Institute of the University of Nottingham (UK) has revealed that China is likely to overtake Japan to become the world’’s second largest economy, either this year or by 2010.
Yao Shujie, the author of the research paper told China Daily in a telephonic interview, “Right now, we don”t have figures for Japan’’s GDP in 2008, but I think China may have already overtaken Japan last year.”
Shujie had predicted in 2007 that China would reach the second position in the world’’s economic pecking order in 2018.
Considering the World Bank and IMF’’s figures on China and Japan’’s 2007 GDP and output growth rate of 2008, Shujie estimated that China and Japan’’s GDP would reach 4.42 and 4.68 trillion dollars in 2008, respectively.
The research also shows US, Japan, Germany and the UK are not likely to recover to their 2007 output levels until 2011 or 2012, but China is expected to expand at seven to eight percent this year. (ANI)

Tags: , , , , , , , , , , , , , ,

Posted in World |