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China overtakes Japan as world's second-biggest economy

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by ByaseL, Feb 14, 2011.

  1. B

    ByaseL JF-Expert Member

    Feb 14, 2011
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    Japan's economy was worth $5.474 trillion (£3.414 trillion) at the end of 2010, figures from Tokyo have shown. China's economy was closer to $5.8 trillion in the same period.

    Japan has been hit by a drop in exports and consumer demand, while China has enjoyed a manufacturing boom.
    At its current rate of growth, analysts see China replacing the US as the world's top economy in about a decade.

    "It's realistic to say that within 10 years China will be roughly the same size as the US economy," said Tom Miller of GK Dragonomics, a Beijing-based economic consultancy.
    The US economy is currently almost three times the size of the Chinese economy in dollar terms. The UK's economy is estimated to be the world's sixth largest.
    Overseas risk
    Japan played down the significance of the shift in the economic league table, and the fact that it has been replaced as the second-largest economy for the first time in more than four decades.
  2. Mutensa

    Mutensa JF-Expert Member

    Feb 14, 2011
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    Most likely the Chinese will continue to rise as they have competitive advantage over others in many sectors.
    - Their ability and control over exchange rate gives chinese companies an advantage over other contries and therefore likely to eport at competitive prices
    - Their technology advantage.
    - Labour endowment
  3. Prisoner 46664

    Prisoner 46664 JF-Expert Member

    Feb 14, 2011
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    China is a great example of what a country can achieve regardless of where it comes from provided it has firm leaders to set the way for it,
    it is all thanks to mao tse tung and the other early china leaders who led the country from an agriculture based economy and established firm rules and reshaped the culture of the chinese people to what it is today...
    we have many a lesson to learn from these humble people of the great china..
  4. newmzalendo

    newmzalendo JF-Expert Member

    Feb 14, 2011
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    this financial sucess came at a very big cost to human life in china,swali je Tanzania are we willing to follow the china route to sucess au tubuni njia yetu.:)