Friday, December 31, 2010
The World Bank announced the Gross Domestic Product (GDP) in 2008 on 1 July 2009. Among the top ten, the United States ranks number one at about $14.2 trillion and Japan as number two with $4.9 trillion. However, BRIC have increased their GDP ranks from the previous year. The GDP ranks are number 8th of Brazil (10th in 2007) and number 9th of Russian Federation (11th in 2007). India has $1.2 trillion GDP with 12th position, and China ranks the third with $3.86 trillion (World Development Indicators Database, World Bank). Some economists predict that China will overtake Japan by the end of 2009, when Japan has been recession, and China has been ok.