China overtakes Germany in terms of GDP

China surpassed Germany to become the world's third largest

economy after it raised its economic growth estimate for 2007

yesterday. 

The revised growth estimate for 2007 - from 11.9 percent to 13

percent, the fastest rate since 1994 - raised the country's GDP

to 25.7 trillion yuan, ($3.5 trillion) at 2007 exchange rates, the

National Bureau of Statistics said. Germany's 2007 GDP was

2.4 trillion euros ($3.3 trillion) at an exchange rate based on the

average rates on the 15th of each month during that year.

"Today's numbers definitely raise the weight of China in the

world economy," said Merrill Lynch economist Ting Lu. He said

his calculations had already showed China passed Germany in

2007. "I think it will take only three to four years for China to

overtake Japan as the second-largest economy. The US is by

far still the largest economy.

China Daily, 01/15/2009

China overtakes Germany as world's third-largest economy

by Amitjha, 01/14/09

China is going to be the number one economy. it is for sure. In

its ride towards the top, it replaced Germany from third spot.

Now dragon will dance on the podium. The recession hit

German economy will recover but, by that time it will be too late

to recover the spot.

How China is going to reshape the model of development in

future will be interesting to watch. Only with the hope that dragon

will not use its fire arm in its goal to be number one.

China has taken Germany's spot as the world's third largest

economy after the United States and Japan, statistics released

Wednesday showed.

Beijing's national statistics office released corrected figures for

the year 2007, revising the gross domestic product (GDP)

growth upwards from 11.9 per cent to 13 per cent, the largest

increase since 1993.

Total GDP figures were revised upwards by 777.6 billion yuan

($113.8 billion), or 3.1 per cent, to 25.73 trillion yuan, thereby

overtaking Germany's output, experts said.

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