Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

China Reports High Growth in Fourth Quarter China Reports High Growth in Fourth Quarter

This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Economy / economy

China Reports High Growth in Fourth Quarter

It surpasses Japan as second-largest economy.

photo of Katy O'Donnell
January 20, 2011

China’s economy expanded by a staggering 9.8 percent in the fourth quarter and 10.3 percent for all of 2010, data released today indicate. The news that China has apparently surpassed Japan as the world’s second-largest economy came in the middle of Chinese President Hu Jintao’s state visit to Washington.

The growth was higher than expected, given the tightening measures adopted recently by Beijing. The acceleration will likely add to the pressure on policymakers to head off inflation and contribute to market concerns over China’s ability to manage growth.

China reportedly eclipsed Japan’s GDP in the second quarter of 2010, but the numbers had to be confirmed with full-year figures. The director of China’s National Bureau of Statistics, Ma Jiantang, said in Beijing today that the comparison relies in part on purchasing-power-parity adjustments that can boost the GDP figures of developing countries, according to Dow Jones Newswires.

 

Japan, which had been the second-largest economy since 1968, will report year-end economic data in February. Ma said that China’s GDP per capita falls significantly behind Japan’s.

The 10.3 percent yearly growth for China put its GDP at $5.88 trillion. The International Monetary Fund projected in October that U.S. GDP will top 14.62 trillion for the year, though the United States is struggling to boost growth in the midst of a glacially slow economic recovery.

Hu will speak today to the U.S.-China Business Council, where he will likely be well received.

Job Board
Search Jobs
Digital and Content Manager, E4C
American Society of Civil Engineers | New York, NY
PRODUCT REVIEW ENGINEER
American Society of Civil Engineers | CA
Neighborhood Traffic Safety Services Intern
American Society of Civil Engineers | Bellevue, WA
United Technologies Research Fellow
American Society of Civil Engineers | New York, NY
Process Engineering Co-op
American Society of Civil Engineers | Conshohocken, PA
Electrical Engineer Co-op
American Society of Civil Engineers | Findlay, OH
Application Engineer/Developer INTERN - Complex Fluids
American Society of Civil Engineers | Brisbane, CA
Application Engineer - Internships CAE/CFD Metro Detroit
American Society of Civil Engineers | Livonia, MI
Chief Geoscientist
American Society of Civil Engineers
Application Engineer - Internships CAE/CFD Metro Boston
American Society of Civil Engineers | Burlington, MA
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Civil Enginering Intern - Water/Wastewater/Site-Development
American Society of Civil Engineers | Sacramento, CA
Staff Accountant
American Society of Civil Engineers | Englewood, CO
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
 
Comments
comments powered by Disqus