Saturday, May 17, 2014
China's rise to the top
As readers among you who have been regulars to read my blog, I have written quite a bit about China, not that it is enough since there are extensive things to be written about. As I have to confess I lived in Hong Kong when I was in my childhood and I still have fond memories of it and is still one of my all time favorite places to visit and live. But at that time, Hong Kong was under British control , and I have never visited China in my life (hope to do that someday GOD willing), but for now I keep on reading articles after articles about the incredible accent of the Chinese Economy and it has been a very interesting ride for them. There have been several articles detailing the rise of Chinese economy and its impact on the world. China's growth rate has been almost double of those of the U.S. and the rest of the world is trying to play catch-up with them for many years. Now this debate has been going on for a long time regarding when and not if the Chinese economy will be No. 1 in the world dethroning the current No. 1, the U.S. And anytime you read it, there is always a conflict between the timing of this. Some say it is already there, some say five years, some say eight years and some even say that it does not matter. But people and economists are especially obsessed by this numbers game. And again recently news came that it will be in five years time much later than what common people were thinking.