CHINA OVERTAKES JAPAN BECOMING WORLD’S SECOND ECONOMY

China has overtaken Japan and become the world’s second largest economy after the United States. The news was reported by Yi Gang, the head of China’s exchange centre. “China,” said Yi in an interview with the magazine China Reform, published on the exchange office’s website, “is already the world’s second largest economy.” In 2009 China had almost overtaken Japan and according to a series of predictions made by the World Bank, Goldman Sachs and others, depending on exchange rates, could even overtake the USA and become the world’s leading economy by 2025.