OECD: China Will Soon Have World's Largest Economy

The Chinese economy, having already surpassed the euro area, will overtake the U.S. and become the largest economy in the world by 2016, after allowing for price differences, according to a recently released study conducted by the Organisation of Economic Cooperation and Development (OECD).

Though China's economic growth slowed in 2011 and 2012 after years of making significant economic strides, the OECD expects that "policy easing and a pick-up in infrastructure spending" will stimulate the region's economy. Further, the OECD cites China's recent slowdown as a contributing factor to lower inflation, which in turn will help drive future growth.

Reforms in China's financial sectors, primarily the easing of government-imposed monetary restrictions, will continue to be beneficial to the area, according to the report. Increased productivity as a result of an improved competitive environment, along with Chinese citizens' continued migration to large, industrial cities, will also play important roles in fueling the country's economic growth.

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  • Report this Comment On March 22, 2013, at 3:20 PM, robmacker wrote:

    A country whose Government that, we might also add, is the number one perpetrator of the senseless slaughter and decimation of African Forest Elephants in Gabon and the Congo, only to harvest their tusks on a mass-scale for the production of ivory trinkets and trophies.

    Please everyone who reads this KNOW what the Chinese government is up to. Write John Kerry and let him know of your horror and disdain for such practices and demand an end to it. If at all possible, minimize your purchase of Chinese made products. Save the elephants.

  • Report this Comment On March 23, 2013, at 10:33 AM, davidshillsenior wrote:

    No surprise here then with western political thinking that has fuelled China's rise over the last three decades. Capitalist greed eventually bites you back in a very big way over time and where over 95% of people in the West will pay for this in hard sweat and tears from now on. Indeed all empires fail due to complacency that the rich and most powerful nations eventually succumb leaving all the troubles to the masses and their future generations.

    Dr David Hill

    World Innovation Foundation

  • Report this Comment On March 23, 2013, at 8:22 PM, SamLi01 wrote:

    @robmacker, please check at least wiki before making your accusation. Ivory is heavily regulated in China. And Chinese government organizes poaching in Africa? Nuts.

  • Report this Comment On March 23, 2013, at 9:32 PM, Snowboater wrote:

    PPPllleeeeeeeaasssse... Spare me your burnt out rhetoric of 95% "sweat and tears." Take a walk outside of academia and realize what us Fools realized years ago. The ability to change our lives. Our "empire" will only fail if we let it! Yes, China will pass us has the world's largest market, so what. Guess what... That means there's more people out there with money to buy our stuff! Your "western political thinking" has been a downer for the last 100 years of intelligent thought. Capitalism works if you work. You should try it.

    What we might want to consider is the handcuffed situation we put ourselves in every time we pass an environmental, work place or trading law to which the Chinese don't adhere. Particularly, the coal they burn which stains our skies and rains down in the Northern hemisphere. Make'm accountable!!!

    My Best - Snowboater

    PS - Fuelled is spelled Fueled.

  • Report this Comment On March 24, 2013, at 4:11 PM, johnkaufi wrote:

    UK --> fuelled

    US --> fueled

    ;-)!

  • Report this Comment On March 24, 2013, at 4:16 PM, johnkaufi wrote:

    Snowboater, when a country has a huge debt, many people haven't had healthcare, people must pay an immense amount of money to attend a proper university and when you ship dump waste to other countries beside selling products then I wouldn't speak up for my country that much.

    Talking to people who have just been exposed to their own culture, just understand their own language, have never really been somewhere else across the border, have never really dived into other cultures and therefore a big cultural gab in their mind ...has never been easy.

    Peace.

  • Report this Comment On March 25, 2013, at 10:25 AM, brownac001 wrote:

    Johnkaufi, the US is the one undisputed superpower of the last half decade up to present day, does that justify 'speaking up for your country'? The Uk is second fiddle. The world agrees. Somebody who has 'dived' into so many other cultures should understand as much.

    Also, you realize virtually all of the worlds population has only been exposed to their own culture right? Buying a $800 Nikon and showing your mother-in-law pictures of the African children you saw the day of your $2000 Safari doesn't make you cultured, it makes you a fortunate tourist.

  • Report this Comment On March 25, 2013, at 7:30 PM, TheRealRacc wrote:

    Ghost cities fuel GDP growth?

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