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China could grow to be twice the size of US economy: World Bank

24-Mar-2011 11:20 AM

World Bank Chief Economist Justin Lin stated China could grow 8% p/a for the next two decades to become twice the size of the US economy based on purchasing power parity calculations (Bloomberg, 23-Mar-2011). Using market exchange rates, it may be the same size, as the US. China’s growth averaged more than 10% over the past decade. China can enjoy “the advantage of backwardness’” and has “the potential to achieve another 20 years of 8% growth,” Mr Lin said.