The size of the Chinese economy is likely to climb, in world
rankings, from its current position as the sixth largest to
the second largest by 2030, said economists with global investment
bank Lehman Brothers.
With its gross domestic product (GDP) growing at an annual
rate of 6 per cent, China will come in after the United
States to secure the second place spot, the economists said.
Such an economy stands to offer exciting business and capital
market opportunities to foreigners over the next 10 years
or so, said Robert Subbaraman, a Lehman Brothers senior
economist who is the co-author of a newly released comprehensive
report on China's economic, political, social and foreign
policy prospects over the next 10 years.
At a press conference last week in Beijing, Subbaraman
and his colleagues offered detailed explanations of their
forecasts regarding the impact of the country's accession
to the World Trade Organization (WTO), growth opportunities
and how to do business in China.