China Economy Zooms by Japan to No. 2 Spot
Nation's now gearing up to take on No. 1 US
By Mary Papenfuss, Newser Staff
Posted Feb 14, 2011 1:40 AM CST
This photo taken on February 10, 2011 shows predestrians walking along a street following the year's first snowfall overnight in Beijing. The Chinese capital had faced its longest wait for winter snowfall...   (Getty Images)

(Newser) – China has steamed past Japan to become the world's second-largest economy. Japan's economy, hit by a drop in exports and consumer demand, was worth $5.5 trillion at the end of last year, while China's was estimated at $5.8 trillion. China is expected to take over the US as the No. 1 economy in about a decade, reports the BBC. Japan officials played down the news. "As an economy, we are not competing for rankings but working to improve citizens' lives," said the nation's economics minister.

View 1 more image
More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Your Take
21% of people agree
that it's Intriguing
Check Out Another Intriguing Story
You Might Like
Showing 2 of 3 comments
Feb 14, 2011 8:03 AM CST
With the debt they have could get ugly.. Other selected Levels of Public Debt as a % of GDP from 2009 est 1 Zimbabwe 304.30 % 2 Japan 192.10 Who does Japan borrow money from ? China as well
Feb 14, 2011 7:57 AM CST
Only Conservatism can save America from falling behind. Not Cronyism, but Conservatism. Liberals actually hate the idea of America being a super power, so they should be stripped of their power all together.