China’s Economy Booming

Discussion in 'News discussions' started by meetdilip, Feb 1, 2010.

  1. meetdilip

    meetdilip The Wizard

    Even if the world is still facing recession, Chinese economy is booming to become the second largest economy in the world. China is about to cross a recession hit Japan to achieve this feat. Chinese economy grew an amazing 10.7% in the last quarter of 2009. Powered by stimulus measures and improving domestic output, China has achieved a great growth of 8.7% in 2009. According to National Bureau of Statistics of China, the economy grew 10.7% in December quarter compared to 9.1 per cent in third quarter.
    The gross domestic product (GDP) in year 2009 is 33,565.3 billion Yuan, which equals $ 4.91 trillion which is higher by 8.7 per cent at comparable prices. According to World Bank, Japan’s economy would shrink 5.4 % in 2009 which means that the GDP will be less than $ 4.66 trillion. As per world bank estimates, Chinese gross domestic product was $ 4.33 trillion last year, where Japan’s GDP was at $ 4.91 trillion.

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