Its time China joined the Group of Seven
May 22, 2006 at 5:42 am 2 comments
Two weeks ago, the Chinese government announced that it would be building more than 40 new airports and develop 10 new sea port facilities by 2010 in anticipation of a rapid demand for the transport infrastructure by its ever expanding manufacturing industry.
This news comes in the wake of reports that China has leap flogged Britain as the world’s fourth largest economy. China’s economy has been growing at a steady rate of 9.5% for the last two decades to stand at £1.13 trillion (R12.6 trillion), putting it a whisker ahead of the UK’s economy, which weighed in at £1.11 trillion according to official exchange rates used by the Bank of England.
Goldmans Sachs forecast they would enjoy strong growth over the next 30 to 50 years, by which time only the US would still be ahead on pure size.
In its analysis it says the leading economies by 2050 will be as follows in terms of GDP
1. China $44.5 trillion
2. US. $35.2 trillion
3.India $27 trillion
4. Japan $ 6.7 trillion
5. Brazil $ 6.1 trillion
6. Russia $5.9 trillion
7. Britain $3.8 trillion World’s largest economies in 2050
With these figures in mind, is it time for China to join the group of seven and replace the lesser country Canada? I guess its time we let the dragon in.
Click Here for more about China according to CIA
Entry filed under: Business.
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bizkenya 
1.
kamujinga | May 23, 2006 at 1:38 am
Its time the G8 joined China, not the other way around.
The Chinese are going to take over the world. The USA may have nuclear weapons, China has a more powerful weapon – they are one of the largest holders of US Government securities. The Fed is essentially mortgaged to China (and Japan) If Dubya misbehaves and the Chinese decide to release those onto the market, the dollar will go into freefall, and then everything at Walmart will cost five times as much, and there will be a massive implosion in the USA. That is a clean, non-polluting weapon of mass destruction which can wipe out the US of A as we know it, without firing a single shot.
2.
BizKenya | May 23, 2006 at 2:27 am
Kamujinga, that a nice one, G8 should join China and not China to join them. were Blair and Bush to heatr your view, they would potray you as undemocratic who wants communists to take over