Business

Chinese economy now second largest in world, overtaking Japan

China has overtaken Japan to become the world's second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.

Depending on how fast its exchange rate rises, China is on course to overtake the United States and vault into the No.1 spot sometime around 2025, according to projections by the World Bank, Goldman Sachs and others.

WATCH: FLOODS DEVASTATE CHINA

Full story: FOXBusiness.com – China Overtakes Japan as No.2 Economy