China 'To Overtake America By 2016' -- The Telegraph
China is on track to overtake America as the world's biggest economy in 2016 as its growth accelerates, according to a report by the Organisation for Economic Co-operation and Development.
China's economy expanded last year at 7.8pc - its slowest pace in more than a decade - and recent data has fuelled concerns that any rebound in the country's growth is losing steam.
However, the OECD was upbeat, predicting in a new survey of China's prospects that the country's economy could expand by 8.5pc this year and by 8.9pc in 2014.
While the OECD noted the slowdown in China's aggressive expansion, it nonetheless predicted that growth should average 8pc in this decade at current rates of investment and reform.
After allowing for price differences, it forecast that China could become the world's largest economy, overtaking America, around 2016.
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My Comment: I am still skeptical of the 2016 date .... but China is on a trajectory to pass the U.S. economy within the next 5-10 years.
1 comment:
This is not really surprising. China slowly swallowing all the strongest countries including US. I'm afraid that this prediction will become real.
energy prices
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