When China Takes Over the World …

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    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.

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    When China Takes Over the World …

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