California Economy Defies Destruction

The California economy is the 9th largest in the world at roughly $2 trillion, while the Los Angeles economy is the 16th biggest on earth, inching closer toward the $1 trillion mark.

The latest rankings from various global economic analysts show California remaining competitive on the world stage with the U.S., China, Japan, Germany, France, Brazil, the U.K., Italy and India.

The Golden State economy grew by 2 percent last year in spite of fierce competition, negative national media coverage, and the siphoning of companies and jobs away from California by political operatives in other states.

California and Los Angeles both economically grew, defying destruction in the face of fear.

On top of such positive news, there's even more good news regarding California's economic upswing.

Orange County's Chapman University reports that the California Composite Index of Consumer Confidence increased to 94.2 in the third quarter of 2012, way up from the dismal 57.6 back in the second quarter of 2008.

List of the 10 Largest Economies in the World

1. United States - $15.1 trillion
2. China - $7.3 trillion
3. Japan - $5.9 trillion
4. Germany - $3.6 trillion
5. France - $2.8 trillion
6. Brazil - $2.5 trillion
7. United Kingdom - $2.4 trillion
8. Italy - $2.2 trillion
9. California - $2.0 trillion
10. India - $1.9 trillion

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