China becomes world's second-largest economy
China surpassed Japan as the world’s second-largest economy last quarter, capping the nation’s three-decade rise from Communist isolation to emerging superpower.
Japan’s nominal gross domestic product for the second quarter totaled US$1.288-trillion, less than China’s US$1.337-trillion, the Japanese Cabinet Office said today. Japan remained bigger in the first half of 2010, the government agency said.
The country of 1.3 billion people will overtake the U.S., where annual GDP is about US$14-trillion, as the world’s largest economy by 2027, according to Goldman Sachs Group Inc. chief economist Jim O’Neill.
China overtook the U.S. last year as the biggest automobile market and Germany as the largest exporter. The nation is the world’s No. 1 buyer of iron ore and copper and the second- biggest importer of crude oil, and has underpinned demand for exports by its Asian neighbors.
Four of the world’s top 10 companies by market capitalization are from China, including PetroChina Co., Industrial & Commercial Bank of China Ltd., China Mobile Ltd. and China Construction Bank Corp.
India poised to become world's fastest growing economy
India may overtake China as the world’s fastest growing major economy by 2015, as the South Asian nation doubles infrastructure investment and adds six-fold more workers than its northern neighbor, Morgan Stanley said.
India’s growth may accelerate to 9.5% between 2011 to 2015, Morgan Stanley economist Chetan Ahya said in an interview from Singapore today. India’s gross domestic product has expanded at an average 7.1% over the decade through the third quarter of 2009, compared with 9.1% in China, which surpassed Japan as the second-largest economy last quarter.
Within the next two years, India will start matching China’s growth rate. After that there will be a clear divergence of growth rates between the two countries.
India is ranked 89 out of 133 nations for its infrastructure, according to the World Economic Forum’s Global Competitiveness Index.
India’s US$1.3-trillion economy may accelerate to 8.5% in the year starting April 1 as Asia’s third-largest economy rebounds from the global recession
China surpassed Japan as the world’s second-largest economy last quarter, capping the nation’s three-decade rise from Communist isolation to emerging superpower.
Japan’s nominal gross domestic product for the second quarter totaled US$1.288-trillion, less than China’s US$1.337-trillion, the Japanese Cabinet Office said today. Japan remained bigger in the first half of 2010, the government agency said.
The country of 1.3 billion people will overtake the U.S., where annual GDP is about US$14-trillion, as the world’s largest economy by 2027, according to Goldman Sachs Group Inc. chief economist Jim O’Neill.
China overtook the U.S. last year as the biggest automobile market and Germany as the largest exporter. The nation is the world’s No. 1 buyer of iron ore and copper and the second- biggest importer of crude oil, and has underpinned demand for exports by its Asian neighbors.
Four of the world’s top 10 companies by market capitalization are from China, including PetroChina Co., Industrial & Commercial Bank of China Ltd., China Mobile Ltd. and China Construction Bank Corp.
India poised to become world's fastest growing economy
India may overtake China as the world’s fastest growing major economy by 2015, as the South Asian nation doubles infrastructure investment and adds six-fold more workers than its northern neighbor, Morgan Stanley said.
India’s growth may accelerate to 9.5% between 2011 to 2015, Morgan Stanley economist Chetan Ahya said in an interview from Singapore today. India’s gross domestic product has expanded at an average 7.1% over the decade through the third quarter of 2009, compared with 9.1% in China, which surpassed Japan as the second-largest economy last quarter.
Within the next two years, India will start matching China’s growth rate. After that there will be a clear divergence of growth rates between the two countries.
India is ranked 89 out of 133 nations for its infrastructure, according to the World Economic Forum’s Global Competitiveness Index.
India’s US$1.3-trillion economy may accelerate to 8.5% in the year starting April 1 as Asia’s third-largest economy rebounds from the global recession
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