Study: China economy world’s largest by 2035

The Chinese economy will overtake the US economy by 2035 and be twice its size by 2050, AFP reported, citing a report by US-based research organization the Carnegie Endowment for Peace. The report projects that by 2050 China will have a GDP of US$82 trillion compared to US$44 trillion for the US. Current estimates put China’s economy at US$3 trillion and the US at US$14 trillion. But per capita GDP in China by 2050 will still be one half to two-thirds that of the US in 2050. The shift in fortunes will see China become a more important military and diplomatic power while the US will assume "an important secondary influence like Europe", the report said.