Chinese Mandarin - China might overtake Germany to rank 3rd in GDP

Home Business Politics Life Culture��Edu Sci��Tech Sports Photos

��Search

  China Observer

�� Whom do you love more, your wife or your computer?

�� China might encounter labor shortage by 2015

�� China wastes heavily in public memorial ceremonies

  Photos

�� Fan Art Expo in Shanghai

�� Performance art to show migrant workers' life

�� Miss Tourism in bikinis

��Home>>Business

China might overtake Germany to rank 3rd in GDP

www.chinanews.cn 2007-07-19 16:47:17

Chinanews, Beijing, July 19 �C Based on the current GDP in China and
Germany, some experts predict that China might overtake Germany to rank
third in GDP in the world this year, only next to the United States and
Japan, the China Securities Journal reported.
According to information released by the National Statistics Bureau last
week, in 2006 China��s GDP reached 21.087 trillion yuan, or 2.70 trillion
US dollars, which was very close to Germany, whose GDP stood at 2.30
trillion euros (2.86 trillion US dollars).
The National Statistics Bureau has released a set of information about
China's macro economy during the first half of this year on Thursday
morning. China's GDP totaled 10.68 trillion yuan in the first half of the
year, a growth of 11.5% year on year, according to latest figures.
However, analysts point out that GDP growth rate of Germany might reach
at most 2.8%.
If China can maintain the current GDP growth rate, by the end of 2007,
its GDP for the whole year will reach at least 23.428 trillion yuan,
while the GDP of Germany might reach 2.364 trillion euros at most. If
converted by the official exchange rate ratio released on July 17 (on
that day, the exchange rate ratio of euro against yuan was 1: 10.4198),
then the GDP in Germany will be more than that of China. However, it
should be considered that during the first half of this year, the yuan
exchange rate against the euro was at an unusually low level. So, it is
still probable that China��s GDP might exceed Germany by the end of this
year.
Recently, Nobel Prize winner for economics Robert William Fogel wrote an
article, in which he predicts that by 2040, China's GDP might reach
123.675 trillion US dollars, which will account for 40% of the global GDP
and more than the combined GDP total of the United States, India, the
European Union, and Japan.

��GDP grows 11.5% in first half year
��
Mundell: China��s total GDP to be quadrupled

Photos More

Banquet
Lhasa
Diamond
Beach Carnival

Copyright� 2004 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
Disclaimer: viewpoints in the website do not represent China News Service

Learn Chinese online, Learning Materials, Mandarin audio lessons, Chinese writing lessons, Chinese vocabulary lists, About chinese characters, News in Chinese, Go to China, Travel to China, Study in China, Teach in China, Dictionaries, Learn Chinese Painting, Your name in Chinese, Chinese calligraphy, Chinese songs, Chinese proverbs, Chinese poetry, Chinese tattoo, Beijing 2008 Olympics, Mandarin Phrasebook, Chinese editor, Pinyin editor, China Travel, Travel to Beijing, Travel to Tibet