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China Beat the United States Economy

Hong Kong - China will beat the United States (U.S.) and become the world's largest economy by 2030. This can happen if China can maintain economic growth rates of 8% annually in the next 20 years. "China will become world's largest economy by 2030," said Justin Lin, Chief Economist of the World Bank in the economic forum in Hong Kong as quoted by AFP, (23/03/2011).

China in 2010 managed to shift Japan as the country with the world's second largest economy. China in 2011 to target economic growth rate of 8% and in 2011 to 2015 only 7% growth rate target. Justin Lin said China has become the country with the fastest economic growth in the last 2 decades and had noted the growth of 'magic' up to 10.4% in the period 1990-2010. Acquisition of Japanese economic growth was in stark contrast with other transition countries.

Nevertheless, he warned that China's economic expansion may also be affected by the weak global economic recovery from the financial crisis. China too must confront domestic challenges such as rising income inequality. Global warming also akna be a real challenge to the long-term sustainability of China.

Bamboo curtain country which is known as the creator of the biggest pollution was advisable to capture the opportunity and turned into a leader in green technology. "It is important for China to continue its growth. These are the challenges for China, but they also provide an opportunity for China," said Lin.China has announced plans for an ambitious program to develop clean energy and close factories that fail to meet emissions targets. Another aim was to reduce carbon emissions by 40% to 45% by 2020 based on the level in 2005.

China's economy in 2010 grew by 10.3%, which is the fastest after the global crisis. Unlike other countries who are trying to encourage economic growth, China would attempt to dampen the economy to prevent overheating which was feared to destabilize the global economy.

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