News Update: China's Economy Beats Japan's in Q2 as World's Second-Largest August 10, 2010

China's economy has edged past Japan's as the world's second largest, the Los Angeles Times reports Monday. Japan's government reportedly said that its Q2 economic output was $1.28 trillion, below China's $1.33 trillion in Q2. China's economy has outperformed Japan's in the past during Q4 2009. Japan has been affected by low consumer spending and a lack of corporate investment.