It’s probably just a matter of time before China becomes the largest
economy in the world. When it does claim the top spot, what sort of dragon
will it be? Will China be a benign hegemon?
The Economist pontificates:
If China does usurp America, what kind of hegemon will it be? Some
argue that it will be a “premature” superpower. Because
it will be big before it is rich, it will dwell on its domestic needs
to the neglect of its global duties. If so, the world may resemble the
headless global economy of the inter-war years, when Britain was unable,
and America unwilling, to lead. But Mr Subramanian prefers to describe
China as a precocious superpower. It will not be among the richest economies,
but it will not be poor either. Its standard of living will be about
half America’s in 2030, and a little higher than the European
Union’s today.With luck China will combine its precocity in economic development
with a plodding conservatism in economic diplomacy. It should remain
committed to preserving an open world economy. Indeed, its commitment
may run deeper than America’s, because its ratio of trade to GDP
is far higher.
See more here:
When China Takes Over the World …
