Rebalancing, adding breath and depth to the domestic economy and becoming less export-dependent.
Owing to its sheer size — China's economy became the world's largest on a PPP basis in 2014 — China seems headed toward global economic dominance. How soon this happens depends on how they handle this transition. China is still an emerging nation.
Project Syndicate
The Next Chinese Economy
Zhang Monan
In the unforeseeable future, India and China will vie for first place owing to their size and resources, both geographically and demographically. However, they could be overshadowed by Europe if the EU, or EZ federalizes. The US will almost certainly have to compete by joining forces with Canada and Latin America in some kind of economic zone, unless the US is able to retain global hegemony.
1 comment:
Only if you're interested in being the biggest.
In reality the best way to deal with a dominant player is to become small, flexible and tightly homogenous.
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