China's Economy Overtakes Japan
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China has overtaken Japan to become the world's second largest economy. New figures released Monday show Chinese economic output, as measured by Gross Domestic Product (GDP), reached $1.337 trillion in the second quarter of 2010, compared to 1.288 trillion for Japan. As Mil Arcega reports, the end of Japan's reign as the second largest economy, behind the United States, underscores China's rapidly growing clout as an economic superpower.
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Well, It was gonna happen sooner or later.
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Well, It was gonna happen sooner or later.
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and now 3 years later, China has doubled Japans GDP!
China will overtake USA in 5 years then double it in 10 years!! mark my words! -
China is flexing their military muscle around neighboring countries. They can take over Japan without war. Japan's economy is dwindling. Their National debt is 250 percent of GDP and their population is declined dramatically. Jobless rate as full time employment is high. Nuclear disaster put food production in peril. Young generation's social mode and desires are declined. No more rising sun...... Like old British sun is setting in their horizon? I'm afraid.....
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@fastkillmmm Agreed, more countries will begin to sell their USDs for RMB and gold, accelerating the decline of the U.S.
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@redwhitedude Somewhat agree with you, China now makes too much money but have nowhere to keep but invest into US T-bills. But just matter of time China will need these monies to build up China's own domestic market, to put into education, healthcare, welfare, energy, technology etc., Chinese currency RMB will be free for exchange, Chinese gov't then can trade with other nations through RMB not US dollar and keep selling US T-bills, US dollar will sharply drop and US's GDP will decline quickly.
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@fastkillmmm interesting. The problem is that China may over take the us in total GDP PPP but that is only very superficial. Quality wise for the forsee able future China will lag behind the US. Countries will continue to invest in the US. One reason that China may be buying up us debt is that they are flush in cash but either don't have anywhere else to put it. i.e. their home country may not be good enough to invest in such large amounts.
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@redwhitedude Watch this video----->Peter Schiff - CNN April 25 2011 U.S. vs. China---, very interesting.
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@redwhitedude Chinese top technologies like space and laser technologies are better than Japan. Japanese are very good at turning their technologies to produce good products like their Japanese cars, TVs and digital cameras to sell around the globe that's something China can't compare and have to learn that from Japan, in about 5-8 yrs Chinese companies will catch up the Japan's. Japanese cars are the top but not their computers, Chinese computer Lenovo is as good as Japanese computer Toshiba.
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@fastkillmmm I was wrong on the 30-50 yrs but a lot of what is being said about China in terms of economics it is statistics. That doesn't tell the whole story plus China is so much larger than Japan. Space technology is one are that china does compare favorably to Japan. About computer chips, does that mean chip production ?? if so just siting the fact that you outproduce Japan doesn't indicate that you are more advanced than Japan in the quality and designs of chips.
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@redwhitedude For a supercomputer the most important is the interlink not who make the chips, now we're #1. Yes we learn from Germany and we admit that but now we surpass the German train. We've never denied we learn a lot of things from the West, but what I disagree with you is you said Chinese technology is behind Japan for 30-50 yrs, that's totally ignorant, we can make the fastest supercomputer and train, and can send satellites to orbit and you say we're behind Japan for 30-50 yrs?
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@fastkillmmm Chinese space tech may be better than Japan, or EU. Chinese supercomputer is not a big deal since a lot of the computers are made from AMerican designed chips. As to trains. the Maglev is based on german Maglev. High speed train know how was imported from foreign sources and chinese are cranking out trains claiming that it is their own know how. The fact is that China imports the knowhow from foreign sources and claim it as indigenous technology which irks everybody else.
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@redwhitedude So wrong. Chinese space tech is better than Japan even better than EU, Chinese supercomputer and train is the fastest in the world, Chinese laser, wind and solar tech is at the top of the world, China builds the biggest dam in the world and the most difficult railroad to Tibet, and Chinese stealth fighter J-20. China already bought Volvo to learn the auto tech from Sweden, Chinese just need to turn these technologies to become commercial products to sell around the globe.
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@fastkillmmm My comment was that statistically China surpasses Japan but the quality is lagging behind significantly. Technologically it is significantly behind. It is going to take a long time for them to approach Japan technologically. The one thing going for them it is that they will have a larger pool of engineers, reseachers, etc... More brain power.
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@redwhitedude China already surpass Japan in the economic real term PPP long long before 2010, Japan was in dream, China's PPP is 2 times bigger than the Japan's, IMF predicts China will surpass the US in 2016, check this video on Youtube to see it by yourself-----> IMF: China to Surpass US in 2016.
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What does this mean? Not much since China is so much bigger than Japan. Qualitatively China is waaayyy behind Japan. It may take China another good 30-50 years to approximate Japan technologically. The biggest pet peeve of business is the lack of intellectual property enforcement. Wait till the Chinese develop their own know how and they find that somebody else is stealing from them
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@Xwaxtaxper How about Angelo Mozilo and his good friend Barney Frank?
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@Xwaxtaxper The US is not the most corrupt nation in the world, but it is one of the most corrupt nations in the world. Was it the SEC that nailed Bernie? No!
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Will we ever see a chinese bust?
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that means the price of chinese hookers will go up all around the world... holly shitt im fucked
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