The Chinese economy grew 9.9 percent last year, the third year in a row of roughly 10 percent growth, government statisticians announced in Beijing on Wednesday.
The Chinese statistics, showing a national economic output of $2.26 trillion, sent China soaring past France, Britain and Italy to become the world's fourth-largest economy, after the United States, Japan and Germany.
Some economists adjust China's figures for the low value of its currency and low domestic prices to suggest that if valued at Western prices, China's output has surpassed Germany's as well.
The United States' economy is still well out in front, but it's very interesting to watch the Chinese economy grow as it has. I'll try to get in an analysis of this later today explaining what this means for the U.S. and world economies. Just as a comparative statistic, the U.S. GDP values around $13 trillion, Japan around $8 trillion, and Germany around $5 trillion. China is not too far behind.
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