China Closing in on Japan as World's 2nd Largest Economy

[Fennecus]

China could replace Japan as the world’s second highest producer in gross domestic product, according to an expert at Japan’s Nomura Institute of Capital Market Research.

If China’s economic growth hit eight percent, as its leaders claim, the Chinese GDP will exceed Japan’s and stand only second to the United States in economic power, said Kwan Chi Hung, senior fellow at the Nomura Institute.

Kwan pointed out various indications that China has recovered quickly from the global economic shock, especially in auto sales. According to Kwan, auto sales in China dropped temporarily after the collapse of Lehman Brothers in September, but increased rapidly this year due to the government’s measure to reduce a tax on purchasing small cars.

“If the trend continues, both auto sales and production will exceed 10 million units this year, making China the largest car market in the world,” said Kwan.

China Economy ????

 

[Gucci Juice]

this is interesting

but

USA stimulus: 5% of gdp

china stimulus: 15% of gdp

i think chinese economy is on "steroids" right now and it still only grew 6.1% compared to 5.7% for India this quarter.

and India's stimulus was VERY small <2%

 

[aimarraul]

how high is GDP per capita in China &#65311;Stop Being a Narcissist .

 

[aimarraul]

are you still proud of the "GDP "when you look at them

 

[Fennecus]

are you still proud of the "GDP "when you look at them

Are you stupid or something?

First of all, I have never ever said that China was without its problems. There are millions of people living in the interior areas who are still living on a couple of dollars a day. But becoming the second largest economy is certainly moving things in a better direction.

 

[aimarraul]

Are you stupid or something?

First of all, I have never ever said that China was without its problems. There are millions of people living in the interior areas who are still living on a couple of dollars a day. But becoming the second largest economy is certainly moving things in a better direction.

you will be surprised how "stupid" i am if you grow up in the outlying area.like living in Beijing is gonna make you smarter&#65292;you're being blind to ignore the reality in China, and it doesn't make you feel the same way as i do just because you shout it out&#12290;a couple of dollars a day? you overestimated the standard of my hometown

 

[Omar1984]

^ Every country has its bad parts. Even U.S. has what they call ghettos where the poor live, and those places have poorer schools compared to other parts of U.S. China is developing and its improving. China and Japan are the two powers of Asia, everyone in the world knows that. I wish China all the best, they deserve only good things for their nation, you guys work very hard.

 

[chauism]

how high is GDP per capita in China &#65311;Stop Being a Narcissist .

$5,963 in 2008 based on IMF's estimation using PPP method, which is far from any developed countries. No one is denying the fact that China is still a developing nation and still have millions of people in poverty to be lift out of. But also ask you the question that if you are born to be poor, would you rather be born in China or some other developing countries.

Legatum Prosperity Index

 

[badguy2000]

well, high GDP of course is not equal to the extinguish of all poverty ,but I am sure that low GDP must mean prevail poverty....

 

[gpit]

are you still proud of the "GDP "when you look at them

Well, those are perhaps all true in China. China is still poor, that is why China refuses to be G-2. Nonetheless, higher GDP should help these as well.

I'm personally not worried as much about picture 1, 2, and 3; but I'm very much worried about 4 and 5, where the kids can't get sufficient education.

To all brothers and sisters who really concern about China's poverty, I recommend you do something real, not just blahblah: 100&#37; of your donation will be used on these kids through this Hand by Hand Education Foundation. Just remember this: a piece of iPod costs $300; it however can support a child finish his/her primary education in China. In addition, for those in China, cast a vigilant eye on those officials for potential embezzlement from education fund .

Thank you.

 

[Captain03]

China could replace Japan as the world’s second highest producer in gross domestic product, according to an expert at Japan’s Nomura Institute of Capital Market Research.

If China’s economic growth hit eight percent, as its leaders claim, the Chinese GDP will exceed Japan’s and stand only second to the United States in economic power, said Kwan Chi Hung, senior fellow at the Nomura Institute.

Kwan pointed out various indications that China has recovered quickly from the global economic shock, especially in auto sales. According to Kwan, auto sales in China dropped temporarily after the collapse of Lehman Brothers in September, but increased rapidly this year due to the government’s measure to reduce a tax on purchasing small cars.

“If the trend continues, both auto sales and production will exceed 10 million units this year, making China the largest car market in the world,” said Kwan.

China Economy ????

good news!

 

[Hasnain2009]

I think China already has crossed Japan in GDP!

 

[chauism]

I think China already has crossed Japan in GDP!

It all depends on what GDP you are talking about. In this article, they are talking about nominal GDP. GDP using purchasing power parity wise, China has surpassed Japan long time ago.

List of countries by GDP (nominal)
List of countries by GDP (PPP)
Purchasing power parity

 

[Speeder]

I have some doubt on which year the above fotos were taken. I am not worried about neither of these fotos though, for China is huge. In a foreseeable future, There are always some remote corners of mountanous areas where one could find similar scences. For me, it is more a matter of an even economic and social development rather than some of representatives of widespread poverty and lack of education for childred, considering people like these kids are less than 1 % I suppose, and of course feel sorry about. What makes the difference however, is how the rest 99% are doing.

On GDP, China will bypass Japan in terms of nominal value this year. However, I deeply suspect that China has measured her total GDP number correctly. A big chuck of black enconomy aside, a GOOD size of GDP in service sector is still hugely underestimated. I won't be shocked if someone somwhow suddenly discovers that there is another Indonesia , and another Argentina -equivalent GDP uncounted sometime down the line...

 

[chauism]

I have some doubt on which year the above fotos were taken. I am not worried about neither of these fotos though, for China is huge. In a foreseeable future, There are always some remote corners of mountanous areas where one could find similar scences. For me, it is more a matter of an even economic and social development rather than some of representatives of widespread poverty and lack of education for childred, considering people like these kids are less than 1 % I suppose, and of course feel sorry about. What makes the difference however, is how the rest 99% are doing.

On GDP, China will bypass Japan in terms of nominal value this year. However, I deeply suspect that China has measured her total GDP number correctly. A big chuck of black enconomy aside, a GOOD size of GDP in service sector is still hugely underestimated. I won't be shocked if someone somwhow suddenly discovers that there is another Indonesia , and another Argentina -equivalent GDP uncounted sometime down the line...

Somehow I have a feeling that you are talking about what is going on in KTV and alikes.