China ‘To Overtake America By 2016’

 

 

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” China is on track to overtake America as the world’s biggest economy in 2016 as its growth accelerates, according to a report by the Organisation for Economic Co-operation and Development.

“China has weathered the global economic and financial crisis of the past five years better than virtually any OECD country and than many other emerging economies,” said the OECD.

“It is well placed to enjoy a fourth decade of rapid catch-up and improving living standards,” the tank added. However, it did point to risks such as property prices and potential tension arising from social inequalities and an ageing population.”