China Passes Japan as Second-Largest Economy

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Numbers released this morning show China surpassing Japan as the second largest economy. China’s weighed in at $1.33 trillion in Q2 with Japan slightly lower at $1.28 trillion, a .0.4 percent growth. If China’s growth remains steady, they are reported to surpass the United States as early as 2030.

While China has roughly the same land mass as the United States, it also makes up a fifth of the worlds population. But China’s medium annual income is a mere $3,600, compared to the United States whose is $46,000.

With China’s huge appetite for oil, coal, iron and other natural resources, it will be interesting in the coming years to see China flourish as a major driver of global growth.