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Sunday, February 13, 2011

Japanese Economy fell to 3rd place behind China

According to some recent reports, Japanese flag Japan's "lost decade" has left a lasting impact.

The country has lost its place as the world's second-biggest economy to China, figures out later is expected to show.

During the period of last three months of the last year and the complete year gross domestic product figures will be revealed by Japan at 0850 in Tokyo on Monday (2350 GMT Sunday).

However, the country's economy has been tasted a drop in exports as well as consumer demand, while China has enjoyed a manufacturing boom.

At its present rate of growth, analysts see China is all set to over take the United States as the world's top economy in about a decade.

While talking to media, Tom Miller of GK Dragonomics, a Beijing-based economic consultancy said, “It's realistic to say that within 10 years China will be roughly the same size as the US economy.”

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