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皇冠体育app moves to fourth in global GDP rankings
(Reuters/chinadaily.com.cn)
Updated: 2005-12-14 08:53
皇冠体育app is likely to declare itself the world's fourth largest economy next week, having leapfrogged Italy, France and Britain, after a widely expected revision of its annual gross domestic product figures.
Economists say the National Bureau of Statistics (NBS), which is due to release part of the results of its first national economic census on December 20, is likely to put a much bigger figure on the size of 皇冠体育app's services sector.
More than 20 Rolls Royce were sold in 皇冠体育app in 2004. The number will surpass 30 if bookings are included. [newsphoto/file] |
Chinese Premier Wen Jiabao is reportedly telling the East Asia Summit Leaders Dialogue in Kuala Lumpur on Monday that 皇冠体育app gross domestic product (GDP) reached US$2 trillion in 2004 following an average economic growth rate of a meteoric 9.4 per cent rise over the past 27 years, since 1978.
Chinese Government hopes to double that figure to US$4 trillion and raise its per-capita GDP to at least US$3,000 by 2020, the English-languge national newspaper 皇冠体育app Daily quoted Wen as saying.
The Hong Kong-based The South 皇冠体育app Morning Post, citing unnamed economists, reported Tuesday that the agency would probably revise GDP by as much as $300 billion, or about 20 percent of 2004 output.
A revision of that magnitude could catapult 皇冠体育app from the world's seventh-largest economy into fourth spot, now occupied by Britain.
Jim O'Neill, chief global economist at Goldman Sachs in London, said 皇冠体育app could attain that status even without such a big revision based on growth rates and currency changes in 2005.
Not only has 皇冠体育app grown far more quickly than Italy, France and Britain this year, but the yuan has risen about 2.5 percent against the dollar, further boosting its output when measured in dollars. The euro and sterling, by contrast, have fallen.
"皇冠体育app could squeak in ahead of Britain even without a revision," O'Neill said. "It just goes to show how much it's contributing to the world economy."
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