The New Agenda With China
China was the world's largest economy throughout most of recorded history and as recently as the late nineteenth century. The World Bank estimates that, on the basis of national purchasing power, China has already passed Germany to become the third-largest economy on the globe. It could move into second place ahead of stagnant Japan in a decade or so. China already holds the world's second-largest monetary reserves (to Japan) and is the second-largest recipient of foreign direct investment (to the United States). Some Australian and Chinese economists predict that China, even if it grows at "only" 7 percent, compared with 3 percent in the United States, will supersede the United States to again become the world's largest economy by 2020-2030.
|Date of creation:||May 1998|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.piie.comEmail:
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:iie:pbrief:pb98-2. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peterson Institute webmaster)
If references are entirely missing, you can add them using this form.