China rises to 4th place

Friday, July 7, 2006 6:54

Posted in category China, China, Corporate Life, Economics, USA, World, World Events

The World Bank says China has overtaken Britain to become the world’s fourth-largest economy. Based on gross domestic product converted into US dollars at current exchange rates it actually overtook the UK some time ago, but now it has done so on a calculation which smoothes out exchange rate fluctuations using a three-year average.The top three world economies are the US, Japan and Germany. France and Italy hold the sixth and seventh place.

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