It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

China overtakes Japan as world's second-largest economy

page: 1
3

log in

join
share:

posted on Feb, 14 2011 @ 10:22 PM
link   

China overtakes Japan as world's second-largest economy


www.guardian.co.uk

...China has leapfrogged Japan to become the world's second-largest economy, a title Japan has held for more than 40 years.

While Japan grew 3.9% last year – its first annual growth in three years – this was not enough to hold off China's booming economy. Japan's nominal GDP was $5.4742tn (£3.4tn) in 2010, less than China's total of $5.8786tn, according to official data released by Japan...

...China remains on target to take the number-one slot from the US between 2020 and 2030...
(visit the link for the full news article)




posted on Feb, 14 2011 @ 10:22 PM
link   
Some of you may recall that China overtook Japan earlier, I believe in 2009, and perhaps again in 2010, the two flip-flopping back and forth in the second and third slots. It's also worth remembering that the figures used to derive even "orthodox" numbers like GDP are notoriously unreliable in both nations and indeed around the world.

Even so, the change is of symbolic import for the two, as Japan has held the world's No. 2 slot since the late 1960s. The world's eyes will be on the uneasy relationship between the two historical adversaries as the regional power tectonics lurch into a new long-term configuration of questionable stability.

www.guardian.co.uk
(visit the link for the full news article)



posted on Feb, 14 2011 @ 10:41 PM
link   
Thanks for posting some real numbers.
This is interesting considering the long time rivalry between the two which has gotten hot over the past 100 years or so.


Bookmarked for future reference when the over the top claims come out....



posted on Feb, 14 2011 @ 10:58 PM
link   
And people wondered why China was building ghost cities!

.



posted on Feb, 14 2011 @ 11:06 PM
link   
reply to post by silent thunder
 


The following is my opinion as a member participating in this discussion.

I believe that due to the grave consequences of Japan debt nearing 200% of GDP and that country's aging population make the issues tied to Japan under performing economy the most under reported story going at the moment . IMO it is very possible that both the US and Japanese governments could default on there debt during the coming decade . Japan attempted to revive economic growth via the likes of green friendly economy hasn't worked . In fact Japanese consumers still prefer say cheaper less energy efficient TV's and then those who brought otherwise replacing electronics and the other likes of always adds to landfills .

As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.



posted on Feb, 14 2011 @ 11:16 PM
link   
reply to post by silent thunder
 


This is very deceptive when you break it down per capita they are not even close. If you have a billion people making hardly anything it still adds up on GDP. Even with that billion people china isn't even half of the United States GDP. Do it per capita again and the winner becomes Qatar $88,232 per person. China ranks 93 at $7,518.00 while Japan rates in at 24 with $33,828.00 per person and the United States is 6th at $47,123.00 .Facts can can always be manipulated to prove any point you like all you do is change the variables.

PS the poorest country in the worls is Democratic Republic of Congo they make $ 340.00 per person. Imagine what that must be like when the average person makes less then 340.00 in a year. Ive been to some poor countries in my travels but even Haiti averages 1121.00 and i remember thinking they were poor.



posted on Feb, 15 2011 @ 12:00 AM
link   

Originally posted by xpert11
The following is my opinion as a member participating in this discussion.

IMO it is very possible that both the US and Japanese governments could default on there debt during the coming decade .

As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.


Not going to happen. In Japan, at least.

Nearly all of Japan's debt is domestic. The remaining 10% or so can be easily handled by the $1.1 Trillion in foreign reserves if need be.

The domestic debt is predominantly capital infrastructure - it's tied up in roads and bridges and railroads and community centres and everything else. It's like your mortgage - having a mortgage that's 200% of your annual income isn't all that bad, as long as you can make the payments, and Japan is in no danger of falling into that kind of situation.

The only reason this story keeps coming up is that there are a lot of people who want desperately to buy Japan's domestic debt - there's big money to be made there if any Japanese PM is fool enough to go that route.



new topics

top topics



 
3

log in

join