The ‘world’s factory’ passes Germany to become 3rd largest economy

Posted on 14. Jan, 2009 by Nathaniel Bacon in Economy, Nathaniel Bacon, Race, Top Stories

BEIJING — China passed another milestone in its stunning rise Wednesday when new data showed it leapfrogged Germany in 2007 to become the world’s third-largest economy.

That puts China, whose economy has grown tenfold in 30 years, behind just the United States and Japan in terms of gross national product. The status is symbolic—China’s population of 1.3 billion are, on average, among the worlds poorest—but reflects the country’s explosive growth as it transformed from long-isolated nation to the world’s factory.  SOURCE>>>>