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China's Economy Growing Its Way to Number One

China's Economy Growing Its Way to Number One

One day you're in, the next — you're out! That's what China told Germany when it knocked the European country out of its comfy spot as third-largest economy in the world. New data shows that when it comes to economic growth, the trends are coming from China. China's National Bureau of Statistics announced yesterday that in 2007, the Chinese economy grew an awe inspiring 13 percent, enough to win the bronze medal in the competition for largest economy.

According to the Financial Times, experts point to urbanization and China's need to catch up with modern technology as signs that the growth will mostly continue. They suspect it won't be long before China passes Japan, and then eventually replaces the US as the world's largest economy. Are you surprised?


Join The Conversation
Red77 Red77 8 years
China owns this country. Stop the bailouts. Your congress just asked for even more money. But I will say, the Democrats are taking the Republican playbook and FINALLY suggesting to cut spending! Of course they had to, given the money they seek. If they want to stay in power, they know they have to make fiscally smart decisions.
Myst Myst 8 years
No, economist have been predicting this since 2000. China was predicted to pass the US as the world's superpower years ago. We are already heavily indebted to them enough as it is
stephley stephley 8 years
Poor child looks really warm.
Jude-C Jude-C 8 years
Strangely, I have dim memories of a jacket very similar to that one, and just as puffy.
stephley stephley 8 years
Do the Chinese often dress their babies in fat suits?
Jude-C Jude-C 8 years
Not surprising at all.
stephley stephley 8 years
Of course, answer #1 doesn't explain why China hasn't been number one all along. I don't think China's improved situation is a surprise when you see how carefully many of its economic moves have been managed in the last couple of decades. The Party has spent a lot of time watching and learning from other countries' mistakes and figuring out ways to mesh what works into their one-party system.
UnDave35 UnDave35 8 years
Growing your economy is easy when you you don't have to worry about unions or working conditions, and have an almost endless employee base.
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