Monday, September 03, 2007

Chinese economy to surpass Japan by 2020: World Bank

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China's fast-growing economy should surpass that of Japan by 2020 and top the U.S. economy around 2050, becoming the biggest in the world, a World Bank official said Thursday. China's gross domestic product, which the bank expects to grow 9.3 percent this year and 8.7 percent next year, should overtake Japan as Chinese people get wealthier and create a demand-driven services economy, said Beijing World Bank office chief Bert Hofman.


BB-Idaho said...

From a logical standpoint, it makes sense: China has about 20% of the world's population, Japan
2% and the US 4.5%. The large population of India is another economic factor to watch.

SERENDIP said...

Consider this:

Must reading for America's Labor Day holiday: an in-depth report on Chinese toy factories by China Labor Watch.

Low wages with no benefits, dangerous work environments, and humiliating living conditions ... the 41-page report covering conditions at eight factories

Bloviating Zeppelin said...

BBI & Serendip: there is, bottom line, no beating demographics.