Opinion
Overtaking Japan no cause for revelry
(China Daily)
Updated: 2010-02-24 13:52
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Media reports say China will replace Japan as the world's second largest economy this year. This may be good news, but we should pay more attention to our low per capita GDP, says an article on Xinhua Net. Excerpts:
China is likely to overtake Japan as the world's second largest economy this year. This is welcome but not surprising news if we compare the territories, populations and mineral resources of the two countries. China's territory is more than 20 times that of Japan.
Its population is 10 times more and mineral resources, hundred times more. The real miracle is how Japan maintained its second position for 40 years. And that should be a lesson for us.
Per capita GDP is not only a yardstick to measure a country's economic power, but also its comprehensive national strength. After 60 years of development, China's per capita GDP is about $3,700 compared to Japan's about $40,000. China does even figure among the top 100 countries in terms of per capita GDP.
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Japan can create products worth $10.5 by using 1 kg of oil, the world's highest efficiency rate and 7 to 10 times higher than that of China.
Apart from its scientific and technological competitiveness, Japan's scale of research funding and number of researchers also rank second in the world - only behind the US.
As for China, it will face many difficulties and challenges even after becoming the second largest economy in the world.
