If Japan was still humming along as it was back in the 80's and China passed them, then, that would indeed be most impressive.

Wouldn't $1.33T and $1.28T be the quarterly numbers?

Congratulation to PRC

USA must be feeling the back pressure

But can capitalist system overcome this to do something in national interest ?

Because in this case I see that US and Japanese capitalist are supporting China's economy and if they start doing it in their national interest wouldn't they become 'communists' ?

ho ho ho what a paradox

Yay. Money. So what? It's islands of wealth, selling the dream of more money to an ocean of, if not quite poverty, than at least the poor. The income disparity cannot be helping.

All power to China; they're finally getting -something- but there's still a lot of work to be done to raise the other hundreds of millions to a comfortable living standard. So: fearful Westerners, keep your shirts on, that trillion dollar economy isn't all turning into missiles and tanks and guns; jingoistic Chinese, let's see the government invest some of that money into keeping sustainable growth (and are social reforms really that hard to do? pretty please?) instead of waving around GDP figures.

Really, folks? Is the GDP really that important? To paraphrase: it's not the size of it that matters, it's how you use it.

You're another one around here who likes the syllogism.

Your delusional paradox is reality's absurdity.

Interaction among Japan, the US and the PRC in trade, economics, finance, production, distribution etc now means the Japanese and the United States will or are becoming communist? Haha, here's a news bulletin: the fascists in Beijing ceased being Marxists Leninist Maoists 30 years ago.

In the PRC, when it comes to communism, there isn't any there there.

There's plenty of state-corporate fascism tho.

While some (precious) few banks in the PRC are working hard to meet international banking standards, such as the China Construction Bank, more than 90% of banks in the PRC - all banks are state owned and operated - (to include of course the CCB) continue to be corrupt, inept, incompetent; largely family, relatives, crony and Party banking operations.

The state owned and operated Bank of China is a mortifying horror show. It remains indefinitely to be an absolute no-go zone for Western banks as it always has been and evermore continues to be the center of incorrigible corruption in the PRC financial system, not to mention sleaze, greed, incompetence, recklessness, irresponsibility.

The US below prime mortgage crisis is peanuts in comparison and contrast to the massive sleaze and corruption of the Bank of China which remains the major bank of the PRC. Wait (a short time) until the fit hits the shan in China because of the wild accounting, Party determined money distribution, and whimsical malpractice of the hugely capitalized Bank of China. The coming failure of the Bank of China will have 100 times the impact on the PRC economy and financial system that the shifty sub-prime greed set off in the US. This is not encouraging for any of us globally, least of all the PRC.

My Bank of America debit card is usable on demand among a dozen banks in Thailand (where?) and in many other countries where corruption is a way of life. Yet in the PRC, Bank of America will debit pay money to me only at certain banks: China Construction Bank, HSBC, Hang Seng, the Bank of Communications. And guess what? Every of these banks that operate on the mainland are in a partnership among themselves of one form or another. No longer is the CCB wholly owned and operated by Beijing - to meet international banking standards, the CCB has had to connect to and comply with the above named banks, to include partial ownership by these foreign banks.

Once Bank of America brought CCB up to international banking standards (well enuff so, anyway, considering we're dealing with the Chinese/Jung Gwo), it purchased a 20% ownership of CCB (max under PRC law - technically, 19.9 percent ownership). And as part of the upgrade of CCB by BoA, HSBC in accordance to a successful previous conditional agreement, then bought its own 20% share of ownership of CCB. That makes the China Construction Bank 40% foreign owned (39.89%).

I dunno about Japan, but the US and UK are in process of buying up significant components of the mainland PRC financial system, namely, Bank of America, Wachovia and the Bank of New York (US), HSBC (UK), Hang Seng Bank (HKG), the HSBC owned Bank of Communications. In contemporary global finance, things tend to balance and counterbalance so as to assure MAD (Mutually Assured Destruction) should a reckless and klutz government such as that in Beijing start acting characteristically clumsy and, frankly, stupid.

I accurately identified HSBC, the Hong Kong and Shanghai Banking Corporation from the days of colonialism by Great Britain as a UK owned bank - how'd you miss my statement? Get your head out from where the sun don't shine.

The CPC/PRC adhered to the pressures of the US Treasury Department report that was complete and was ready to be issued to declare the PRC a "currency manipulator."

The consequence was the PRC began a long overdue appreciation of the RMB and the US never issued the report. It's called speak softly and carry a big stick diplomacy. Geo Bush didn't understand it, Obama does.

Beijing supports workers in the PRC agitating to demand higher wages and benefits. The cynical reason is that the workers are agitating against foreign owned companies. This Beijing initiated industrial action makes Beijing look good to the exploited factory workers in the developing PRChina at the expense of foreign direct investment.

What do you think would happen if Chinese factory laborers at the uncountable state owned unprofitable corporations in the PRC began to take industrial action, demanding Beijing to pay them higher wages and benefits? You and I know they'd be shot, massacred, if deemed necessary by the fascist PRC. The Chinese laborers know it ever more acutely than most of us could ever imagine. Cynicism.

Your comments in this respect are crap.You don't know who in the PRChina are protesting against whom or what, or what state owned factory labor cannot request of Beijing much less demand of it lest they be shot because they'd be protesting against Beijing instead of the (foreign) devil corporations.

The foreign corporations have acceded to the Chinese factory laborers insistence for more pay and benefits. Chinese slave labor at state owned factories and corporations continue to be exploited by their state owned and operated masters.

My god, who do think your'e kidding. More accurately and realistically, you don't know who in the PRC is conducting industrial actions because they can, and who at slave labor state owned corporations are not conducting industrial actions because they'd make widows or their spouses and orphans of their children.

The US Treasury Department report that was complete and was ready to be issued to declare the PRC a "currency manipulator."A business owner appeals to the Ukrainian president to help fend off a competing business." Search for m2ts converter ? flv to wmv converter. Hulu Downloader The fact that the government hires militias like the Salwa Judum to spy and intimidate ordinary people is clearly a prescription for disaster. How can any civilized government justify empowering militias to hunt and kill fellow citizens.