Why China will dominate Asia and the world

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: China will grow at an average of somewhere around 8.5% per year right up to 2008 — and maybe at 8% thereafter until 2015. By that year it will overtake Japan, at market exchange rates and without any PPP adjustment. It will very gradually tighten interest rates, but not at the cost of real economic growth. It will not let the yuan float upwards and hamper its international competitiveness. It will continue pouring money into infrastructure. It will continue to attract over $50 billion of FDI every year in the foreseeable future. At $851 billion, its trade in goods and services is about 8 times that of India — and that will grow at double digits. And it will be the world’s number one market for mobile phones, coal, steel, metals, television, personal computers, white goods, agricultural and food products. The list is never ending.

China is and will be Asia’s prime and, after the US, the world’s second most important powerbase. If we tried hard enough, we could be the second in Asia. But for that we need to stop debating antediluvian nonsense and start adopting the Nike slogan: “Just do it”. China has. Why can’t we?