China's Economy Will Dwarf US

Twice the size of the US economy by 2050: report
By Peter Fearon,  Newser Staff
Posted Jul 9, 2008 7:33 AM CDT
Workers carrying barrels to hold rubber latex walk through a rubber plantation. China's booming economy is driving demands for raw materials ranging from iron and coal to rubber.   (AP Photo/Color China Photo)
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(Newser) – China is the world's economic superpower of the future and will dwarf the financial might of the US, according to a new study by an American research organization. China's economy will surpass the US economy by 2035—and be more than double its size by 2050, predicts the report by the Carnegie Endowment for International Peace.

"China's economic performance clearly is no flash in the pan," said the study author. "Its growth this decade has averaged more than 10% a year and is still going strong." The nation's financial success is expected to boost China's power in other arenas, including military and diplomatic affairs. "China's financial clout will spill into every conceivable dimension of international relations," the report predicts.