China Poised to Pass Germany as No. 3 Economy – Dow Jones
International Monetary Fund data predicts that China will surpass Germany as the third largest economy in the world this year. From Dow Jones:
Recent estimates put the size of China’s gross domestic product in the past year at $2.8 trillion, breathing down the neck of Germany’s $2.9 trillion national output for the period, The Wall Street Journal reported in its online edition. Only the U.S. at $13.2 trillion and Japan at $4.4 trillion have bigger economies, according to International Monetary Fund data cited by the Journal.
Chinese government data for the second quarter, expected Thursday, are expected to show that Chinese output grew by around 11% in this year’s first half, a rate that economists think China will maintain this year, according to the report, which noted that even optimistic predictions for German growth, at close to 3%, are no match for that. [Full text]