Detailed text transcripts for TV channel - CNN - 20110214:14:30:00
The u.s. has long been the world's biggest economy followed by japan and china. today a shakeup in the rankings. allison cossack at the new york stock exchange. >> sure. japan's economy slipped from second into third, not totally unexpected. now it is official. here are the rankings as far as world economy. the u.s. is first, china second, japan is third. what happened in japan? it is growing, in fact, at a 3.9 annual pace but gdp shrunk in the fourth quarter. china is growing at a 10% pace. as far as japan goes it never fully bounced back from the severe stagnation that began two decades ago....
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