Monday, August 30, 2010
CHINA VAULTS TO NUMBER 2 IN THE WORLD
Several economists have already forecasted such change in the leaderboard but not all are impressed. Yes, China may have scored and landed the number 2 spot worldwide but they are constantly plagued with several issues still to be addressed. The big boost in the economic growth has been continuously questioned to have just made the rich richer and leaving the marginally oppressed still behind. Second quarter of 2010 shows that China's valus is pegged at $ 1.28 billion, way behind US who is at $ 14 billion and just slightly above Japan at $ 1.22 billion.
Another thing to consider is that while China vaulted in terms of overall country growth, its economic output remains to be a question. A very low GDP and a per capita ratio still puts a shadow in doubt to its real value - showing that the country is rich but it's people not so.