World

China overtakes Germany as world's third-largest economy

by Amitjha | January 14, 2009 at 03:10 am

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China is going to be the number one economy . it is for sure.In its ride towards the top, it replaced Germany from third spot.Now dragon will dance on the podium.The recession hit German economy will recover but , by that time it will be too late to recover the spot.

How chine is going to reshape the model of development in future will be interesting to watch.Only with the hope that dragon will not use its fire arm in its goal to be number one.

China has taken Germany's spot as the world's third largest economy after the United States and Japan, statistics released Wednesday

showed.

Beijing's national statistics office released corrected figures for the year 2007, revising the gross domestic product (GDP) growth upwards from 11.9 per cent to 13 per cent, the largest increase since 1993.

Total GDP figures were revised upwards by 777.6 billion yuan ($113.8 billion), or 3.1 per cent, to 25.73 trillion yuan, thereby overtaking Germany's output, experts said.