US warns Japan over 'boxcar' economy

US - The Japanese economy, the world's second largest, risks becoming a "boxcar" on the global racetrack, US Treasury Secretary Paul O'Neill has said.

Experts predict that, on current trends, Japan will fall behind China in the global economic league, and claim an economy one quarter the size of the US's, Mr O'Neill said.

"In 1991, the Japanese economy was nine time the size of China's and three-fifths the size of the United States'," he told a conference in New York.

Japan's fall would reduce

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