China passes Japan as second largest economy

China’s economy has been steadily growing over the past three decades, bypassing countries like Great Britian, Germany and France. And last night, the country took a major economic leap: China is now the world’s second largest economy, behind only the United States. The milestone was reached after Japan announced a slightly smaller second quarter value than China.

We talk with David Barboza, Shanghai business correspondent for The New York Times about the milestone.