I saw a news report by UK’s The Independent posted today, where it shows data released yesterday that revealed that the Japanese economy grew at an annualized rate of 0.4 percent over the three months to the end of June, a substantial reverse following the 4.4 percent growth seen in the first quarter.
The slowdown meant that China officially overhauled Japan as the second biggest economy in the world this spring, at least in terms of total output. Its gross domestic product for the second quarter was $1.335 trillion, compared to Japan's $1.286 trillion, though the country's huge population means that China remains well down the global league in terms of GDP per capita.
Catherine Yeung, investment director at the fund manager Fidelity International, said: "This is a confirmation of China's growth phenomenon and underlines the long-term trends that the country, and indeed the region, will benefit from in the years to come".
And PricewaterhouseCoopers, the accountancy and consultancy, is forecasting that it could overtake the US as soon as 2020!
Methinks, that is a tad too ambitious even for China. I'm looking at 2030.
Today’s PJ Hilton Toastmasters meeting was without Stephen Fernando, but the meeting still proceeded with strong support from Jane, Foong, Bernard and the rest. I took on the role of evaluator for Bernard Louis, DTM who is repeating his CC manual, and in the Rafflesia room, he delivered speech # 2 Organize Your Speech with his usual trademarked aplomb.
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