Economic growth – China Becomes Second Biggest World Economy
Reuters | CNBC — Friday, 30 July 2010
….Yi Gang, China’s chief currency regulator, mentioned the milestone in passing in remarks published on Friday.
“China, in fact, is now already the world’s second-largest economy,” he said in an interview with China Reform magazine posted on the website of his agency, the State Administration of Foreign Exchange.
Cruising past Japan might give China bragging rights, but its per-capita income of about $3,800 a year is a fraction of Japan’s or America’s...more...
The major problem with this report is that China’s statistics are completely fraudulent. While China as No. 1 will be true in the future, but right now the ranking is impossible to pin down—even for the Chinese. Still, I love how the China-hating Japanese anguish over this, muahahaha.
The primary problems of dead-Japan™ are that the Japanese have always hated to take chances entrepreneurially. Japanese business is temperamentally CONSTIPATED (hence the photo on the top of this post).
Now that the average age of Japanese people is close to 60 years in many areas like mine in here in Tokyo, it is unreasonable to expect the Japanese to want to do anything but enjoy their twilight years while Japan fades away with their world’s-No.-1 negative birthrate and world’s 2nd highest debt ratio that’s worse than basket-cases like Greece and Iceland (…Japan’s national debt 170.4 percent of the Japanese GDP–only Zimbabwe is worse with a national debt is 241.2 percent of Zimbabwe’s GDP).