Asia's largest economy, Japan to be superceded by China!

From Business Week:

Japan’s finance minister is blue over how quickly China is gaining on Asia’s biggest economy. Two years ago, anyone who said China would overtake Japan in 2010 was laughed into submission. Fantasy may soon become reality and the Japanese media can’t churn out enough dire stories about it.

“Generally speaking, it’s a good thing that China and Asia are growing and Japan needs to make efforts to ensure it can benefit from that,” Kan, 63, told reporters in Tokyo last month. “Coming from a generation that experienced high growth, my honest feeling is a sense of sadness.”

PricewaterhouseCoopers LLP’s recent prediction that China will overtake the U.S. as the largest economy by 2020 is the talk of Tokyo....

...Adding insult to injury, the great Toyota Motor Corp. is recalling cars in China, and Japan Airlines Corp. is bankrupt. Add in deflation and the threat of a Standard & Poor’s downgrade and it’s hard not to conclude 2010 is getting off to a dreadful start for Japan.

Full article:
Toyota Recall Is Moment to Counter China?s Rise: William Pesek - BusinessWeek

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China is booming I find it all a bit confusing.
Commy capitalists Chairman Mao must be turing in his grave.

give it another few years and I reckon the red curtain will fall as western green eyed values of capitalism will creep and use the human rights act as its battering ram.

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Ahh but thats where it gets interesting. If capitalist values start filtering through, then that will generate a larger welathier class, better educated, who will want more, which speeds up the cycle.

As more people become better off, infrastructure and facilities will need upgrading. So with massive investment needed, where does this come from, the private sector? Then the divide with the rest of the vast population will increase, as they see what they could have, which then causes unrest.

A wealthy china will generate some serious overheads, could be interesting times ahead.

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Defo you have put my exact point into text dude.
Viv le revolution.

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