China has overtaken Japan to become the world’s second-largest economy
Sondra Palma
Jul. 31, 2010

China is on course to overtake the United States and vault into the number-1 spot sometime around 2025, according to projections by the World Bank, Goldman Sachs and others.

“China, in fact, is now already the world’s second-largest economy,” he said in an interview with China Reform magazine posted on the website (www.safe.gov.cn) of his agency, the State Administration of Foreign Exchange. Cruising past Japan might give China bragging rights, but its per-capita income of about $3,800 a year is a fraction of Japan’s or America’s.

“China is still a developing country, and we should be wise enough to know ourselves,” Yi said, when asked whether the yuan should become an international currency.

China has overtaken Japan to become the world’s second-largest economy
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