Beijing, China, 14 February 2011China is now better than Japan in the economy based rankings. Presently, China holds the ‘world's second largest economy, replacing Japan’s reign in 40 years.
In business, China works side by side with Japan's main trading partner. Their good working relationship is very important especially with the electronic companies / electronics firms mainly: Sony, Honda and Toyota. Japanese, Mr Yosano said, Japan needed close watch on any risks from overseas economy and currency movements.
China's major growth was funded by its long-running manufacturing boom and the subsequent expansion of the domestic industries and from its infrastructure. When infrastructure was available, investors went there, said by Duncan Innes-Ker - the Economist Intelligence Unit (EIU) in Beijing.
‘They were building way ahead of where people thought the demand would be: because the infrastructure was there, companies went there.’ – BBC news.
Japan economy fall was Japan’s first in five quarters caused by a dip in domestic and export demand. Consumer spending fell 0.7% in the final three months of 2010, analysts said. Their Economic Growth declined by 0.3% from the previous quarter as based from Tokyo’s latest figures. Currently, Japan's biggest hurdles are aging population who spends less, and also hit by high cost workforce and inflexibility of the operation systems.We see China today as the factory of the world. It has opened herself to the World Trade Organization and her industry is growing to its peak, in a fast tract development with enough manpower, infrastructure and capital, it could probably leapfrog the US someday? It is a changing world indeed. Is Global Transition in biz, economy and weather in a phenomenal change?