CHINA: OVERTAKES JAPAN TO BECOME 2ND WORLD ECONOMY

China has officially overtaken Japan and is now the second world economy after the USA. China’s leap ahead took place during the second quarter (April-June). Data published by Tokyo today says that Japan’s six-monthly GDP was 2,578 billion dollars, as against China’s 2,532, but during the second quarter China’s GDP hit 1,336 billion, compared with Japan’s 1,288 billion.