Do you think china will become the first economic power in several years time?

Question

how do you think the world will change as china emerges?

Answer 1

yes, it will not change i think, the real power will still be in the hands of "old" rich nations from the west

Answer 2

Some of the answers to this question have highlighted the upside of China.

For sure China will become wealthy.

Nothing is inevitable though. I think the US has been quite clever in dealing with China and vice versa. They have created a common interest between them, so as to prevent hawks on either side making war inevitable.

China may not become the world's economic #1 for several reasons:

a) They may not be clever enough in distributing wealth to their population in a way that creates what some people call a "middle class", but basically is a very liquid class with access to credit and ability to save. Or they may be very clever at it...who knows? Unproven yet.

b) They will have a hella job keeping up with the US on information technology. The intellectual clash of opposites that the US promotes in all areas of life seems to work well in creating information economies.

c) The US is the world leader in stuff like stock exchanges...period.

d) The US has an awesome military, love it or loathe it, I can't see China surpassing it in my lifetime, possible...see US and UK 1900-1945 for an example of a great military power being overtaken.....but unlikely.

e) The Chinese, like the Japanese may develop a very decadent unproductive class, like farmers, top executives, politicians...who destroy all the benefit of their productive factory workers, technicians etc....see Sony...see Japanese farmers...see Japanese civil engineering companies...

Very possible...but not a done deal.

Answer 3

China's population is greater than 1.2billion, and they are striving for quality in everything they do. 1.2billion skilled, productive people can only mean one thing. Economically, they will be calling all the shots in about 10years.

The world could be better off for it if the US would see it as an opportunity and not as a threat. The war on terror could be over, Iran and North Korea could be under control, had the US made better attempts to have China as an ally. Who in the world can stand against US and China?

Instead the US has sought to put restrictions and tarriffs on good coming out of China without considering the consequences, and continue to sour ties with China.

That is why China will not take a strong stance against Iran since it get much of its oil from there. There seems to be some unity in the war on terror, but when you look at the big picture it is everyone country for themselves.

Answer 4

No doubt they will. It will be an entirely new world balance. The pendulum is definitely heading in China's direction. As to how the world will change -- in so many ways, some better, some not.

Answer 5

Yeah definately. The west has seen its manufacturing outsourced to China and its only a matter of time before the service based stuff goes as well.

Answer 6

It is inevitable, they have a quickly developing economy, and a huge population...look at energy trends in the past decade. They are gaining huge international buying power.

Answer 7

if china stopped producing stuff,, americas economy would crash,, any us company that has their product built in china would lose all their stock value real quick

Answer 8

eventually, yes, but not in a several years time maybe a little bit of longer.

Answer 9

Probably, although I think that trade barriers will go up before then.

Answer 10

yes it will and we will be scared by it