China is indeed a growing superpower as it now takes the place of Japan in the number two spot of the world’s largest economies. This just confirms that China is no longer the isolated Communist country that we are used to associating it to. It beat Japan by several billion dollars, with the value for the second quarter GDP for Japan is about 1.288 trillion dollars, and that of China is 1.337 trillion dollars.

On the other hand, Japan is still leading China for the second half of the year. Furthermore, the yearly Gross Domestic Product of Japan is around 5.07 trillion dollars, while that of China is around 4.9 trillion dollars. Still, China is the most successful country to have come out of last year’s recession, as it’s economy has improved to over more than 90 times that of its economy during the year 1978. During this year, the leader Deng Xiaoping used free-market reforms and removed Communist policies.

According to several analysts, specifically from Jim O’Neill, who is the chief economist for Goldman Sachs Group Inc., China will surpass the United States in the number one spot by the year 2027. This year, the annual Gross Domestic Product is 14 trillion dollars.