China overtakes Japan as world’s second largest economy

China overtakes Japan as the world’s second largest economy in 2010 after almost 4 decades. For last 42 years, Japan was enjoying the second largest economy spot only after USA.

Japan’s nominal GDP stands at USD 5.474 trillion in 2010, lower than China’s nominal GDP of USD 5.879 trillion. Though Japan was struggling with the economic growth during last fiscal year, China posted handsome 10% GDP growth last fiscal year and expected to keep the pace in future as well.

 

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