India’s economy will soon overtake Japan’s

By Simon Cox, China economics editor, The Economist

China overtook Japan in 2010 to become the world’s second largest economy, a title Japan had held for almost 40 years. It went on to become the world’s biggest manufacturer, a dominant buyer of commodities and the holder of $3trn of foreign-exchange reserves. Its penetration of foreign manufacturing markets was dubbed the “China shock” and its accumulation of foreign assets a “savings glut”.