Japan still No. 2 economy – for now
Japan’s economy was helped by a rebound in exports, led by sales to China, which is Japan’s largest overseas market.
Despite the upbeat news about Japan’s economy, analysts say China’s blistering growth will drive it past Japan’s economy sometime in 2010.
A fast-growing Chinese economy finished 2009 with a GDP value of 33.53 trillion yuan — equal to $4.906 trillion — but has been growing at an annual rate of 8 to 10%, or twice that of Japan.
0:00 /0:48China raises reserve requirements
The United States remains the world’s largest economy, with a value of about $14 trillion.
– CNN’s Kyung Lah contributed to this report.