China's economy will soon become the biggest in the world. Each year China passes at least one new milestone. In 2008 it surpassed Germany to become the third biggest economy. In 2009 it surpassed Germany as the biggest exporter and America as the biggest car market. In 2010 it will surpass Japan as the second biggest economy.
With average annual growth in America being some 7.5 percentage points lower during the 2000s, then assuming that this will continue and that the real exchange rate of the yuan will appreciate by on average 3% per year then it will only take 11 years before the Chinese economy becomes bigger, meaning that by 2020 China's economy will be the biggest in the world
http://www.economist.com/research/articlesBySubject/displaystory.cfm?subjectid=348918&story_id=17733177
No comments:
Post a Comment