China Overtakes Japan As World’s Second-Biggest Economy

China has overtaken Japan as the world’s second-biggest economy, putting it on course to surpass the United States within the next 15 years, RFE/RL reports.

Data released Feb. 14 put China’s overall gross domestic product (GDP) for 2010 at $5.879 trillion. That compared to $5.474 trillion for Japan.

Japanese Chief Cabinet Secretary Yukio Edano pointed out, however, that Japan has just one-tenth the population of China. He told reporters today, “Although we have been overtaken in terms of the country’s GDP … Japan is still around 10 times higher than China in terms of per capita GDP. We have to make use of our affluence as well as the development of neighboring countries to help pass on our wealth to the next generation.”

For the past 20 years, China’s average annual GDP growth has been above 9 percent and is expected to top 10 percent for 2010.

But if current trends continue, economists expect the country to become the world’s largest economy, overtaking the United States in total GDP, by around 2025.