Wednesday, March 23, 2011

China's Economy Could Surpass U.S. Within 20 Years

China's economy has already surpassed Japan (even before the earthquake), and now appears ready to vastly surpass the U.S. within 20 years, says the World Bank.

World Bank Chief Economist Justin Lin said otday that China can grow 8 percent annually for the next two decades to become twice the size of the U.S. economy.

China coud become twice as large as the U.S. in two decades, based on so-called purchasing- power parity calculations, or using market exchange rates, it may become the same size.

The World Bank said today that China's economy may continue growing at 8%/year, more precisely, “the potential to achieve another 20 years of 8 percent growth,”

As China's (and other emergin countries) population gets richer and eats better, there are global risks involving surging food, commodity and fuel prices that pose a threat to social stability".

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