Wednesday, February 09, 2005

China poised to overtake US in 2020s

From CHINAdialy: China poised to overtake US in 2020s

"China's unprecedented rise, fueled by foreign investment and technology, has put the Asian giant on a path to surpass the United States economically by 2025, the author of a new book (The Chinese Century) on China said on Tuesday. ... "The rise of China is a watershed," Shenkar told Reuters in an interview. "I compare it to the rise of the United States in the late 19th century."

"The Israeli-born researcher said he put China's emergence as the world economic power about two decades earlier than most analysts by measuring purchasing power rather than nominal figures to measure output and growth."

"A major theme of Shenkar's book is how technology transfers have helped China catch up to U.S. competitors at low cost. "Maybe we are selling our technology too cheap, or as in the case of China, we're giving it away or somebody is taking it without compensating us," he said." Read more


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