China Overtakes Japan as World's Second-Largest Economy

China overtook Japan as the world's second-largest economy as the recovery in some of the major economies looks increasingly shaky.

Japan's gross domestic product grew just 0.4% in the second quarter, the Associated Press reported. The figure suggests that China's economy, which is expected to grow by 10% this year versus Japan's rate of 2%-3%, will be larger at the end of 2010.

Japan's nominal GDP, not adjusted for price and seasonal variations, was $1.268 trillion in the second quarter, while China's was $1.335 trillion. Japan has held the position of world's second-largest economy since 1968, when it pulled ahead of West Germany.
Read Full Story
  • DJI25954.4463.120.24%
    NASDAQ7489.072.300.03%
  • NIKKEI 22521431.49128.840.60%
    Hang Seng28514.05285.921.01%
    DAX11401.9792.760.82%
  • USD (PER EUR)1.13-0.0001-0.01%
    USD (PER CHF)1.000.00020.02%
    JPY (PER USD)110.860.27400.25%
    GBP (PER USD)1.30-0.0014-0.11%