Our View: Booming China economy overtakes Germany - East Valley Tribune: Opinion

Our View: Booming China economy overtakes Germany

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Posted: Saturday, January 17, 2009 9:42 pm | Updated: 1:27 am, Sat Oct 8, 2011.

This was inevitable, but when it came this week it was still a little bit of a shock: China surpassed Germany to become the world’s third-largest economy.

Revised figures show China with a 2007 gross domestic product of $3.5 trillion compared with Germany’s $3.3 trillion.

Economists say it is only three or four years away from overtaking Japan, with a GDP of $4.4 trillion, for second place.

It is still decades from catching up with the United States, by far the world’s largest economy at $13.8 trillion.

China’s rulers have thus far been able to balance increasing economic freedom with tight political and social control over the population. It may not last. Already, a once-hopelessly impoverished population is using its rise in wealth to speak out against official corruption and incompetence.

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