BUSINESS

Chinese economy now in second place worldwide

TAGs: China, Japan

china-economy-growsAlready this year we’ve seen growth in Asian markets as far as certain territories are concerned…well maybe we’re only talking about Macau but the fact much of the continent is an untapped market is optimism in itself.

One of the markets that where some kind of regulation looks like occurring in the near future is the most populated nation in the world and already has Macau as one of its special administrative regions. Any news concerning China is really rather pertinent then.

Today, the Wall Street Journal is reporting that the country’s economy is far from slowing and has overtaken cross-sea neighbors Japan as the number two in the economic league table. It’s not like one of those tables that are continually changing either.

Japan was second in the standings, behind leader USA, for 42 years and only gave up their runner-up spot after a fourth quarter decline. You might have thought China has surpassed Japan in the past but over an entire year, they’ve never done so.

There’s no reason for the Japanese to be mega pissed about this though. Their Economy Minister Kaoru Yosano, saw the positives that can arise from the news, and said: “We are pleased to see China’s economy rapidly developing.”

Earlier this month we saw one of the industry’s most active firms in terms of exploring new markets, Swedish company Betsson, sign an agreement in China ahead of any regulation. With the region as a whole set to overtake the US by 2014, it’s little wonder that China is being awarded their very own huge silver medallion for their new place on the podium.

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