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China Economy to Beat U.S. by 2020 on Supercycle, Standard Chartered Says
Nov. 12 (Bloomberg) -- Stephen Orlins, president of the National Committee on U.S.-China Relations, discusses U.S. relations with China and the outcome of the Group of 20 leaders summit in Seoul. President Barack Obama attacked China’s policy of undervaluing its currency minutes after the summit ended. The G-20 failed to agree on a remedy for trade and investment distortions. Orlins speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)
China will overtake the U.S. to become the world’s largest economy by 2020, helped by faster expansion and an appreciation of its currency, according to Standard Chartered Plc.
“We believe that the world is in a ‘super-cycle’ of sustained high growth,” economists led by Gerard Lyons said in a report published today. “The scale of change over the next 20 years will be enormous.”
China’s economy will be twice as large as the U.S.’s by 2030 and account for 24 percent of global output, up from 9 percent today, Lyons said in the 152-page Super-Cycle Report. India will surpass Japan to be the third-biggest economy in the next decade, according to the report. Goldman Sachs Group Inc. estimates China will overtake the U.S. by 2027.
The world may be experiencing its third “super-cycle,” which is defined as “a period of historically high global growth, lasting a generation or more, driven by increasing trade, high rates of investment, urbanization and technological innovation, characterized by the emergence of large, new economies, first seen in high catch-up growth rates across the emerging world,” Standard Chartered said.
Nov. 12 (Bloomberg) -- Stephen Orlins, president of the National Committee on U.S.-China Relations, discusses U.S. relations with China and the outcome of the Group of 20 leaders summit in Seoul. President Barack Obama attacked China’s policy of undervaluing its currency minutes after the summit ended. The G-20 failed to agree on a remedy for trade and investment distortions. Orlins speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)
China will overtake the U.S. to become the world’s largest economy by 2020, helped by faster expansion and an appreciation of its currency, according to Standard Chartered Plc.
“We believe that the world is in a ‘super-cycle’ of sustained high growth,” economists led by Gerard Lyons said in a report published today. “The scale of change over the next 20 years will be enormous.”
China’s economy will be twice as large as the U.S.’s by 2030 and account for 24 percent of global output, up from 9 percent today, Lyons said in the 152-page Super-Cycle Report. India will surpass Japan to be the third-biggest economy in the next decade, according to the report. Goldman Sachs Group Inc. estimates China will overtake the U.S. by 2027.
The world may be experiencing its third “super-cycle,” which is defined as “a period of historically high global growth, lasting a generation or more, driven by increasing trade, high rates of investment, urbanization and technological innovation, characterized by the emergence of large, new economies, first seen in high catch-up growth rates across the emerging world,” Standard Chartered said.
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