{"id":41246,"date":"2010-08-16T04:35:00","date_gmt":"2010-08-16T04:35:00","guid":{"rendered":"http:\/\/www.epress.am\/2010\/08\/16\/china-replacing-japan-as-worlds-second-largest-economy\/"},"modified":"2010-08-16T04:35:00","modified_gmt":"2010-08-16T04:35:00","slug":"china-replacing-japan-as-worlds-second-largest-economy","status":"publish","type":"post","link":"https:\/\/epress.am\/en\/2010\/08\/16\/china-replacing-japan-as-worlds-second-largest-economy.html","title":{"rendered":"China Replacing Japan as World’s Second-Largest Economy"},"content":{"rendered":"

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Figures released by the Japanese government indicate that China has replaced Japan as the world’s second-largest economy, after the United States, RFE\/RL reports.\u00a0<\/p>\n

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The figures show that Japan’s gross domestic product (GDP) for the second quarter of this year, seasonally unadjusted, totaled $1.28 trillion. That’s compared to $1.33 trillion for China.<\/p>\n

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Caution is needed in interpreting the figures, however, because they cover such a short period, only from April to June this year, when economic growth in Japan slowed to a miserable 0.4 percent. Taken over a longer period, for instance the first half of this year, Japan is still ahead.\u00a0<\/p>\n

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But with China’s growth proceeding at a breakneck pace — presently an estimated annualized rate of 10 percent — nobody really expects Japan to win back the laurels it gained as long ago as 1968, when it surpassed West Germany to become the world’s second-biggest economy.<\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Figures released by the Japanese government indicate that China has replaced Japan as the world’s second-largest economy.
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