NYT: “China Passes Japan to Become No. 2 Economy“:

After three decades of spectacular growth, China passed Japan in the second quarter to become the world’s second-largest economy behind the United States, according to government figures released early Monday.

The milestone, though anticipated for some time, is the most striking evidence yet that China’s ascendance is for real and that the rest of the world will have to reckon with a new economic superpower.

Related Newley.com post: “More on China, the U.S., GDP, and economic power.”