China's economy has grown at an average of 9-10% annually for 30 years, allowing it to become the second largest economy in the world behind only the United States. If China maintains 7% growth, its economy will double in size within a decade and surpass the current size of the American economy, making China the world's largest economy, possibly as early as 2014 according to IMF projections. Over the next 50 years, China is expected to undergo further dramatic shifts that will impact not only its domestic situation but also the global economy.
9. When will China become the world's largest economy?
With annual GDP growth rates of 9-10% for 30 years, China has quickly
become the second largest economy in the world, overtaking all but the
United States.
Even with China slowing, its economy is still expanding at double the pace of
America's.
The power of compound growth, growing at 7% means the Chinese economy
will double in size in about a decade. That would bring the Chinese economy
to the same size as America's is now.
11. CHINA AT 2050
(CNN) -- Since the establishment of the People's Republic in 1949, China has gone through
some of the most dramatic changes in its history. Analysts believe the next 50 years will
bring another series of radical shifts in China, affecting its people, its government and the
world.
14. • China is poised to overtake the US as the world's largest economy this year,
earlier than expected.
• "The United States remained the world's largest economy, but it was closely
followed by China when measured using purchasing power parity," the ICP said
in its report.
• According to expectations from the IMF for growth between 2011 and 2014,
that would put China ahead of the US this year.