Thursday, August 19, 2010
China surpasses Japan to become second largest Economy
It was recently reported that China passed Japan to become the second largest economy in the world, right behind the USA. However, a better measure of the wealth of a nation is the per capita GDP. In terms of its per capita GDP, China ($6,600) is poorer than Poland ($14,000) and nowhere near Japan ($33,000). In fact, China is in about the same place as El Salvador, when its economy is considered in the light of per capita GDP.