China's economy might be No 1 in 2030
China's economy will become twice as big as that of the United States and larger than both theUS and the EU combined within just 17 years, according to one of China's leading economists.
Hu Angang, dean of the Institute for Contemporary China Studies, one of China's leading thinktanks, makes the prediction in his new book, China 2030.
The book, already out in Chinese and to be published in English next month, is likely to attractmajor interest around the world.
His forecast - which also sees China becoming the biggest economy by 2020 - is the boldestand most optimistic prediction yet about China's economic future.
It also comes at a time when there are concerns about China's short-term prospects with GDPgrowth slower than expected in the first quarter at 7.7 percent, down from 7.9 percent in thefinal quarter of last year.
China still has a hurdle to cross just to overtake the US, with China's $8.23 trillion nominal GDPbeing just over half (52 percent) of the US' $15.68 trillion in 2012, according to the InternationalMonetary Fund.
However, the likelihood of matching the US sooner rather than later has certainly increasedsince Goldman Sachs made its forecast in 2006 that China will be the biggest economy by2025.
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