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.
24-Mar-2011 11:20 AM