China has overtaken Japan as the world’s second largest economy. China’s over $5 trillion economy is now second only to the United States. But considering that the U.S. economy is over $14 trillion it will be a long time before China takes the top GDP spot.

So all the excitement today about China’s economy is just a lot of fuss about nothing. China will have to triple its GDP to overtake the U.S.

And in the meantime the U.S. will not be standing still.