China overtakes Japan to become world's second biggest economy

2011-02-14 (China Military News cited from dailymail.co.uk) -- China has grown to become the second biggest economy in the world behind the U.S, official figures confirmed today.
Officials in Japan revealed their economic output was overtaken by the world's most populous nation last year after more than forty years in second spot.
Experts believe China will overtake the U.S. to become the world's biggest economy within a decade.
It is a historic shift power in the far east - Japan has been the world's second largest economy since 1968.
However China has become increasingly powerful as its economy surges with the greater wealth being allowing its rulers to pursue ever more ambitious projects such as the development of a 'stealth' jet fighter and space program to rival the U.S. .
But despite its growing economic output, the population of China remains far poorer than its rivals, with a Gross Domestic Product per person that is about a fifth of the same figure in Japan.
Japan's Gross Domestic Product last year was £3.4trillion compared with China's £3.66trillion, the official figures revealed.
China's economy has been growing rapidly in recent years while Japan is struggling with deflation, an ageing population and soaring public debt.
But Japanese economy minister Kaoru Yosano dismissed the significance iof its fall into third place.
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