China 'to dwarf G7 states by 2050'

http://news.bbc.co.uk/2/hi/business/4770590.stm

China's economy is projected to grow so fast that it could outstrip all developed nations by 2050, a report by Pricewaterhouse says.
The Asian giant's economy is set to double in size between 2005 and 2050, according to the report.

As with other developing countries, a key driver for China's rapid growth is its younger, cheaper workforce, it argues.

India, meanwhile, is expected to be the world's fastest-growing economy.

snip...

Also on a PPP basis, PwC says the German, UK and French economies could end up smaller than Mexico's economy and similar in size to that of Russia.

Both Japan and Germany whose economies stand in second and third place after the US, are expected to be surpassed by developing countries India and Brazil by 2050.

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Take a look at the New Powers of the future...
Do we want Communist China to be the ruler of the world economies???

There are plenty of corrupt government bureaucrats....but I've never met anyone who wants to return to the good old days of collectives and semi-starvation.

Really, do you think you can stop 2/3 of the world's people from wanting the same dreams and materialism that we have?

or are they working and living in poverty why bureaucrats feed off their labor and live in the lap of luxury...

There's a real danger of rising expectations in China. The economic miracle in the coastal provinces has not really impacted those that live in the interior provinces. Managing those expectations are going become more difficult as more and more people want a piece of that dream.

Seems like knowing the VP gets you places here.

that is in power there.

This isn't Russia. Russia had a war ravaged infrastructure and little practical natural resources.

They were bound to fall.

China has boundless resources and slave labor.

Wal-Mart and company are creating our future masters.

For a country of it's size, China has remarkably few natural resources. Less than 20% of the country is arable land- the rest is desert and mountains. They have no oil to speak of- just coal which they are burning at a rate that has sent life expectencies plummeting in the western provinces.

Why do you think we're PNACing the Middle East *right now*? We're trying to choke China off before it gets access to a dependable source of energy.

What good is slave labor if you have to close the factories for weeks at a time in the summer because there's not enough electricity to run the machines?

China owns a great deal of our debt. We are selling out to them and anyone else who will fund our irresponsible spending habits.

We are letting ourselves become more vulnerable with every Treaasury auction.

Julie

become the standard, well, all bets are off.

Funny how predictions about global warming over 45 years are treated with contempt by many of the same people who hypothesis about economic conditions on the same time scale.

and looking at the shrinking of the American debt ridden economy

one may project that and have good facts to base it on...

Your right statiscians like to take numbers and predict the future...

and yet who really knows...

There is a big different. I do not foresee a scenario in which Chinese foreign military bases ring the US borders and threats are made by China that the US much change its internal policies. China is simply asserting its sovereign right to develop its economy.

and they will also have needs far greater than ours when it comes to fuel. Soon they will need more crude oil than the world can produce.

Julie

This is a business-as-usual projection based on the idea that current trends will continue, which they will not. Not that I mean to imply that we are not having our asses kicked economically, we are, and have been for some time now, with the full consent and complicity of those we elect to run our affairs.

simply amazing.

So, ummm. What's going to fuel this "rapid growth?"

Money off trees and energy out of thin air, I guess.

If I had even one nickel invested with pricewaterhouse, I'd remove it immediately.

it should impact China while sparing others.

Not only do they lack suffient energy inputs to sustain this sort of growth, but they're liquidating their natural capital at a higher rate than most of the rest of the world.

The have to eat, drink and dispose of their wastes like everyone else....

I'd say China has progressed enough that the correct question to ask is "What do we do when China rules the World economy?", not "Do we want Communist China to be the ruler of the world economies?"
However, the rise of China needs a well-thought response from us, not fear or hysteria. It is a possible threat as well as a huge opportunity. My main gripe with China is about the way the Chinese State treats its citizens and minorities and its authoritarian setup. I have no quarrel with the average Chinese guy trying to make it in life.

if back in the Cold War days the prez's knew we were paying big bucks to Communist country they would be livid with outrage... Remember in the old days that Communist was a bad name... and yet for cheap labor the corporations now think its just fine and dandy...

It only proves to me they were all hypocrites...

This is really where our country is at... fighting for resources to stay on top

Military needs oil and gas... thats an essential

we don't have tanks running on batteries...

our way and Bush can claim victory.