Don’t look back, something might be gaining on you

China is world's second-biggest economy overtaking Japan after three decades of blistering growth while Japan's economy has stagnated. On a per capita basis Japan is still far richer. China could overtake the U.S as the world's largest economy by 2027, according to Goldman Sachs Group Inc. chief economist Jim O'Neill. China overtook the U.S. last year as the biggest automobile market and Germany as the largest exporter. The nation is the world's No. 1 buyer of iron ore and copper and the second- biggest importer of crude oil, and has underpinned demand for exports by its Asian neighbors (Bloomberg).