Analysts: China's economy will surpass the U.S. within 10 years

Analysts: China's economy will surpass the U.S. within 10 years

Beijing : China | Feb 14, 2011 at 7:23 AM PST
Views: Pending
Japan has urged Beijing to be clearer about its military spending

Beijing, China - Economic analysts have predicted that China will continue to rule as the second strongest economy in the world, and maybe in 10 years it will surpass the U.S. as well.

Some analysts made the forecast after China surpassed Japan as the "world's second-biggest economy."

According to Tom Miller of GK Dragonomics, a Beijing-based economic consultancy, it would probably occur within 10 years that China's economy most likely be at par with the United States if it will continue its growth rate.

"It's realistic to say that within 10 years China will be roughly the same size as the US economy," Miller said.

Just today, Japan Cabinet Office have released its statement that Japan's economy have declined in the past year to 1.1 percent in the fourth quarter.

Despite of this, Japan also welcomes China for having a strong economy and most especially it was only a neighboring country.

"As an economy, we are not competing for rankings but working to improve citizens' lives," Economics Minister Kaoru Yosano said.

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China has surpassed the US to become the world's top energy consumer
China has surpassed the US to become the world's top energy consumer
Earl Cebedo is based in Cagayan de Oro, Northern Mindanao, Philippines, and is an Anchor on Allvoices.
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