China Finance Review

China’s GDP is expected to overtake Japan as the world’s second

16th February, 2010

China’s economic aggregate has already approached Japanese,  media said the total amount of Japan’s economy was overtaken by China this year almost became certain.  Japanese real GDP last year fell 5 percent, largest drop since World War II while China’s GDP rose to second in the world, the World Bank predicted that economic growth in East Asia speed up to 8.1%  and China made the greatest contribution.

China’s economic aggregate has already approached Japan’s.  Statistics show that nominal GDP in Japan in 2009 for 474.924 trillion yen, down 6.0%, the biggest decline since World War II.

In 2009 China’s GDP is equivalent to 96% in Japan. According to the Bank of Japan released the annual average exchange rate against the dollar, yen 93.62 conversion, Japan’s nominal GDP equals to 5.07289 trillion U.S. dollars.

According to China’s National Bureau of Statistics January 21 preliminary statistics released in 2009, China’s GDP to 33.5353 trillion yuan, with comparable prices, an increase of 8.7%, according to 2009 annual average exchange rate of renminbi against the U.S. Dollar 6.831. In U.S.  dollars terms is about 4.909281 trillion U.S. dollars. This means that in 2009 China’s GDP is equivalent to 96% of Japan’s GDP, with only one step away.

The Japanese government said,  in 2009 demand-driven key Asian markets of Japan’s export growth, government spending plan to stimulate domestic consumption to increase, Japan, in 2009 Q4 real GDP has risen to 2009 the fastest growth rate since the second quarter, but the Japanese government also said that , the Japanese economy is still in a serious state of deflation, the government will take action to prevent the recovery stalled.

On the other hand, in 2009 a sharp yen appreciation against the U.S. dollar appreciated by 10.5%, largely offset by the economic growth gap.

The Chinese government low-key response to the “second” of the proposed Japan’s GDP since 1968 and has since emerging as the world’s second largest economy top spot by 2009, China’s GDP in the end there is no more than Japan?
Since 2007 China has surpassed Germany to become the world’s third largest economy. But there is still no indication that China is especially eager to put the world’s second largest economy of the crown.