China to pass US as economic superpower

China will have the biggest world economy by 2016, according to an international think tank.


The Organisation for Economic Co-operation and Development (OECD) out of Paris has written in a new report that China will be the world’s leading nation in terms of economy in just four years’ time, with other BRICs nations likely to usurp the current top dogs during the next few decades as well, Russia Today reported.

“The next 50 years will see major changes in country shares in world GDP,” the OECD report released this week reads.“On the basis of 2005 purchasing power parities (PPPs), China is projected to surpass the Euro Area in a year or so and the United States in a few more years, to become the largest economy in the world, and India is projected to surpass Japan in the next year or two and the Euro area in about 20 years.”


Additionally, the OECD predicts that China and India will together have a GDP that will beat out that of the G7 nations by as early as 2025, and by 2060 they expect Indian to out-perform the US on its own.

"As the largest and fastest-growing emerging countries fully assume a more prominent place in the global economy, we will face new challenges to ensure a prosperous and sustainable world for all. Education and productivity will be the main drivers of future growth, and should be policy priorities worldwide," said OECD Secretary-General Angel Gurria in an accompanying statement published with the report.