Robert Mundell: China expected to become world's largest economy in 2050

China is expected to become the world's largest economy in 2050, said Nobel laureate in economics, "the father of Euro" Robert Mundell in a speech entitled "Construction of Northeast Asia Headquarters Base", according to sources from the Ministry of Commerce.

At the fourth Northeast Asia Economic Cooperation Forum, Robert Mundell gave his own evaluation of China's economic development situation.

In his view, China's annual GDP growth maintains a rate at around 11% at present; in the next 15 to 20 years it will not be lower than 8%, and China will retain a rapid growth until 2030. China is expected to become the world's largest economy in 2050. The per capita income of China will also keep on rising.

Robert Mundell also pointed out that a major bottleneck of China's economic development is energy. As a major coal consumption country, China's carbon dioxide emissions accounts for 14% of the world's, of which more than 85 % are from coal. To keep sustainable energy development as soon as possible and get rid of the excessive dependence on coal are crucial for the economic development of China.

By People's Daily Online