Japan overtaken by China as No. 2 economy

[danarhea]

TOKYO (AFP) – Japan lost its 42-year ranking as the world's second-biggest economy to China in 2010, with data on Monday showing a contraction in the last quarter due to weak consumer spending and a strong yen.

And judging from what I hear about food in china, I would say that China's distinction as the number 2 economy is well deserved. :mrgreen:

Article is here.

 

[Councilman]

Today when we think of products from Japan we think quality, because of items like Autos, TVs, cameras, etc.

Today we spend billions on Chinese crap because of price and everything is disposable and quality is less important.

China has made in roads on the backs of either very cheap and or slave labor and along with poor quality it's largely ignored by retailers and consumers.

Japan uses profits as we do for peaceful pursuits, while China on the other hand is building it's Military into a formidable offensive force that is bent on domination and we are the speed bump on the road to it.

We as consumers are paying for our own eventual downfall and it's being ignored except for a few of us who are not afraid to point it out.

Since V.J. day Japan has become as good a partner as we have in the world and we need to make sure they stay that.

As for China we need to stay wary of them and never let down our guard or blink, and I'm sorry and I mean it, but Obama is the Neville Chamberlain of our time, and commands no respect from our potential enemies.

 

[PeteEU]

Japan 100 million people
US 300 million people
China 1+ billion people

It is only a matter of time before China takes over nr. 1 spot, so taking over nr. 2 is a "non story" in many ways.

 

[Troubadour]

Obama is the Neville Chamberlain of our time, and commands no respect from our potential enemies.

An utterly bizarre and unfounded opinion, especially in reference to China. The Obama administration has stood up to China more than any presidency of the last two decades, and certainly more than his predecessor (who issued the infamous "letter of two apologies" in response to Chinese hostage-taking).

 

[nonpareil]

Why wouldn't the title says: China overtakes Japan as No. 2 economy?

It was just a matter of time.

 

[Real Korimyr #9]

Japan uses profits as we do for peaceful pursuits, while China on the other hand is building it's Military into a formidable offensive force that is bent on domination and we are the speed bump on the road to it.

We have the world's most expensive military, larger than the rest of the world's combined. If China is guilty of anything, it is following in our footsteps.

 

[StillBallin75]

doesn't really make much of a difference, even if China gains top dog status sometime in the future, both Japan and the U.S. will still have higher GDP per capita and thus a higher standard of living. In addition, many people say that China is stuck in a "manufactured goods trap" in which their economy, because it is for the most part imitative and not innovative and is so focused on manufacturing instead of moving on to high-tech goods and services, will become stuck and their growth will slow until they realize they need to play catch-up. This isn't all that big of a deal imho.