Japan: Economy slips to third in world, behind U.S. and China
February 13th, 2011
10:02 PM ET

Japan: Economy slips to third in world, behind U.S. and China

Japan has slipped to the world's third largest economy, falling behind the blistering speed of China's manufacturing growth, according to Japanese figures released Monday.

Japan's cabinet office released its nominal gross domestic product figures for 2010. Japan's economy was valued at US $5.4742 trillion while China was at US $5.8786 trillion.

Japan's economy did grow in 2010, but only by 3.9%, according to the government. China's is expected to grow more than 10%. At the speed China is growing, Japan's government predicts China will overtake the United States as
the world's largest economy in less than 20 years.

China has expanded domestic industries and infrastructure, driven by a surge in exports. Multinational corporations have expanded in China, taking advantage of low labor costs.

FULL STORY
Post by:
Filed under: China • Economy • Japan
soundoff (12 Responses)
  1. cardsfan

    Damn!!

    February 13, 2011 at 10:41 pm | Report abuse |
  2. RUFFNUTT

    china is so awesome... the land of oppertunity..

    February 13, 2011 at 10:45 pm | Report abuse |
  3. Herman Morris. china is supporting the world. If you don't believe it just look at your shoes. The US unemployment is up and economy is down because inventories are being filled by products imported from China, thus american firms hireing forced cheap lab

    HERMAN MORRIS

    February 14, 2011 at 2:44 am | Report abuse |
  4. Herman Morris

    CHINA is supporting the world, if you don't believe just look at your shoes. china government owns over 50% of mfg busineses which american companies invested with guarantee of slave labor, 2 or 3 dollar per day. US companies bit into it and china built new mfg companies with US companies dollars with latest technology with slave wage chinese labor. Now our inventories go down they are filled with products manufactured in china shipped by container inspected and locked in china, then by rail & truck to warehouses in us for distribution to our stores. Unemployment is high because the mfg that was done in US is now being done in Chinese majority % owned businesses. China call Scocialist instead of communist.. We must put high import tarrif on all imports, use money to build new mfg co for production, give engineering & high tech scolarships to US citizens with provision to work in US to fill new factory jobs. china can tell US companies we have majority interest in companies in china so goodby AH SO!!

    February 14, 2011 at 3:59 am | Report abuse |
  5. henry

    I run a factory in china. And I tell you the truth. The average salary for an unskilled worker is around $200USD/month, and the factory provides free meal and residence. You may think that it is so small amount. But in china, it is enough. Products selling in china is very low priced. American always say that most of the factory workers are salve worker. It is complete not true. I have to beg the workers to come back to work after the long holiday. Workers can find another job within days. For those anti-chinese american, please come to china, to see for yourself. Talk to the people.

    February 14, 2011 at 6:12 am | Report abuse |
    • leeintulsa

      3 hots, a cot, and $200 a month... Sounds like prison

      February 14, 2011 at 8:55 am | Report abuse |
    • guest

      In Beijing, a subway ride costs 2 RMB, which is about USD 30 cents. In San Francisco, the cheapest fare on BART is over USD $3 for traveling between two stations, or 10 times to cost of riding in Beijing's subway. Different countries have different cost of living. Granted, $200 a month is not much, but people who earn minimum wage in the U.S. are not exactly having an easy time as well. Also, housing is often 1/3 ot even more of the cost of living for people. In developing countries, food can consume 1/2 of the income. For these workers, two of the biggest costs are already covered as part of their compensation by their companies.

      Still, is this slave labor? Did these people get kidnapped and shipped across ocean against their will to work, and if they dare to escape, they can get killed? These are the things that real slaves went through? I don't think the conditions of these workers meet this threshold. To label them slave labor trivializes the real evil that the real slaves had to endure. Even if these workers are indeed slave laborers, who are they slaving for? Would it be for the American consumers, who are continuously demanding better prices for themselves?

      February 15, 2011 at 5:50 pm | Report abuse |
  6. Justina

    China will be #1 for a long term if she keeps her present nationalism and unity, but she lacks the good guy's mentality which has been the traditional property of USA. China has great individuals but who knows what this mission-less communist nation's superiority brings to the world? She already has too much ambition and too many land disputes with her neighbors. Could be another major strife when the power balance is off.

    February 14, 2011 at 7:01 am | Report abuse |
  7. Justina

    China, as well as the whole Asia, must learn to value each and every human life as God's priceless unique creation and not a mere component of something more important such as a society or a civilization, in order to be truly good. Asians need Biblical worldviews without sinking into the Western moral decadence.

    February 14, 2011 at 7:11 am | Report abuse |
    • Cesar

      Don't forget Justina,that not trying to conquer other countries like the United States,Great Britain and France are currently endeavoring to do isn't exactly hurting China either along with not spending needlessly on their military like us and the British and the French.

      February 14, 2011 at 7:52 am | Report abuse |
    • leeintulsa

      Tibet ring any bells?

      February 14, 2011 at 9:09 am | Report abuse |
  8. Cesar

    Ok

    February 14, 2011 at 8:16 pm | Report abuse |