Monday 15 February is popularly known as Presidents Day in the US, with many businesses and government offices shut. The holiday is officially called Washington’s Birthday, to celebrate the first president of the US, but when it was moved from 22 February to the third Monday in the month, going into effect in 1971, President Richard Nixon called it Presidents Day, to honour all US presidents. The label stuck, albeit informally.
China has begun its week-long celebration of the Chinese New Year, with its stock markets and businesses closed to celebrate the arrival of the Year of the Tiger.
The Year of the Tiger looks likely to be the year China slips into second place as a world economic power. Japan published figures Monday that show it remains the world’s second largest economy, with GDP (gross domestic product) of $5.085 trillion. The figure for China is $4.909t. China is expected to overtake Japan during 2010 but it will need another 20 or more years to catch up with the US, whose economy is three times the size of China’s, many analysts suggest.
Links to other sites: Vancouver Sun, US Mission in Germany, Xinhua
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News story, GenevaLunch, 15 February 2010.
Filed under: World news
Tags: China, Chinese new year, economy, GDP, Japan, Presidents Day, U.S., Washington's birthday