Pursuitist
Now Reading
China overtakes Japan as World’s 2nd Biggest Economy
Pursuitist

China overtakes Japan as World’s 2nd Biggest Economy

Pursuitist Luxury Best Luxury Blog

The surge of luxury spending in China has tipped economists to the growing influence of the nation’s monetary importance. That point was underscored when it was revealed that China has surpassed Japan as the world’s second-largest economy – capping a three-decade rise from an antiquated communist nation to one of the world’s economic superpower.

The news came when the Japanese Cabinet Office announced that Japan’s gross domestic product for the second quarter totaled $1.288 trillion, less than China’s $1.337 trillion.

Luxury brands have been flocking to China over the past few years, as new money fuels a spending boom. From fashion to autos, luxury brands are flourishing and an untapped market offers unsurpassed growth potential.



Pursuitist.com is an award-winning 5-star luxury travel & lifestyle blog showcasing luxury cars & drives, fashion & style, gear, real estate, travel, and food & drink.
© 2020 Pursuitist. All Rights Reserved. Site By Parr Interactive.

Scroll To Top