China's economy grew so rapidly in the first half of 2007 that it is likely to overtake Germany as the world's third-largest by the end of this year, analysts say.
China's sizzling economy expanded even faster than originally thought last year, with the government revising 2006 growth domestic product (GDP) to 11.1 per cent from 10.7pc.
"With this upward revision, it is highly likely that China will bypass Germany to become the third-largest economy in the world in current US dollar terms by the end of this year," said Hong Liang, an economist at Goldman Sachs.
According to the World Bank, Germany's economy was worth $2.9 trillion at the end of 2006.
The torrid pace of development means that China's economic czars will once again have to devise fresh ways to prevent the export powerhouse.
[Gulf Daily News]
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