China 'to become world's largest economy by 2038'

China will overtake the United States to become the world's largest economy by 2038 if current growth rates continue, according to Professor Shujie Yao, Head of the new School of Contemporary Chinese Studies at The University of Nottingham.

Giving his inaugural lecture at the University, Professor Yao said that China's GDP (gross domestic product) would overtake that of Japan by 2017 or 2018 and Germany's by next year.But these were conservative scenarios based on nominal exchange rates, he said. If purchasing power parity was used instead, China would overtake the United States much sooner.

Full information: CSCC