Without a doubt, China will be the world power in the 21st century. With 1.1. billion consumers it is only a matter of time until it will surpass the U.S. as the biggest economy before she will be surpassed by India, sometime in the second part of the 21st century.
The Economist published a nice interactive feature here. Simply pop in expected annual GDP growth, inflation and RMB appreciation and it’ll tell you when China will surpass the United Stages. So far it looks like in six to eight years from now China will be the biggest economy on earth.
Maybe I should go back to studying my Chinese characters….