domingo, 13 de fevereiro de 2011

Japan economy to drop to third place behind China


Japan has lost its spot as the world's second-biggest economy to China, figures out later are expected to show.
Fourth-quarter and full-year gross domestic product figures will be released by Japan at 0850 in Tokyo on Monday (2350 GMT Sunday).
Japan's economy has been hit by a drop in exports and consumer demand, while China has enjoyed a manufacturing boom.
At its current rate of growth, analysts see China overtaking the US as the world's top economy in about a decade.
"It's realistic to say that within 10 years China will be roughly the same size as the US economy," said Tom Miller of GK Dragonomics, a Beijing-based economic consultancy.
Racing ahead
There has been a debate over when exactly Japan was overtaken as the world's second biggest economy, with some analysts saying it happened in the third quarter of last year.
However, the full-year figures should give a more concrete comparison.
According to the International Monetary Fund, Japan's gross domestic product (GDP) was $5.39 trillion (£3.3 trillion) in 2010. China's preliminary figure shows its GDP last year was $5.75 trillion.
Japan's economy is expected to have grown by about 2.8% in 2010, according to the IMF. China's growth is expected to have hit a much more powerful 10% when the revised figures are released. BBC News