China and Japan neck and neck in economic rating

Israel News.Net
Sunday 1st August, 2010

China will soon become the world's second-largest economy.

Changing the balance in the Asian area, China is set to overtake Japan to surge to second place after the US in total economic output.

It will be the first time since the 18th century, that China has served as Asia's military, technological and cultural power.

China has become the biggest exporter, auto buyer and steel producer in the region, with its worldwide influence growing.

While Japan's people are among the world's richest, with a per capita income of $37,800 last year, China's rise has produced glaring gaps between the poor and wealthy.

China has dozens of billionaires in among some of the most needy people in the world.

In China, the per capita income is $3,600.

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