In my opinion, China could overtake US as the world’s largest economy if it maintain annual growth of 8% over the next 20 years.
Last year, I had already overtook Japan as the number 2 economy, and set a growth target of 8% for 2011 and is aiming for 7% per year from 2011 to 2015. The reason why I said that China can become the largest economy by 2013 is because it has the potential market which measured by purchasing power parity.
Based on the history record, China has been the world’s fastest growing nation over the past 2 decades and grew at a miracle growth rate of 10.4%. It’s a sharp hike contrast to the other economies performance.
However, it will be hampered by weak global recovery from financial crisis which happen nowadays. Besides that, there is a global warming challenge to China long term sustainability due to it is the world’s biggest polluter. So, it depends on how effective they seize the opportunity to turn itself into a new leader in green technology. What say you?
