Remember when almost everything imported to the United States from the Far East seemed to be marked “Made in Japan”?
Well, Communist China’s economy has passed Japan’s. China is believed to have reached that milestone in 2010. Japan confirmed it this week.
China now has the world’s second-largest economy, exceeded only by that of America. Japan’s production last year hit $5.47 trillion, compared with China’s $5.88 trillion. While still repressive, China has grown by permitting some free-market reforms.
The United States still leads, however. The output of our country last year totaled more than $14 trillion!