China in the long run • First, catching up with Europe and the U.S. in total GDP in the next decade. • In about two decades time, running away from Europe and the U.S. in total production terms (not GDP per capita).
This development is nicely described by Stephen Cohen and Brad deLong in their new book “The End of Influence” which tells us that “influence is where the money is” (i.e. in Asia, mainly China and India). But China also has a number of big, big challenges (which are summarized in the paper for this presentation).