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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?

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