According to a news report appearing in the US press, some top economists and social scientists have predicted that China would overtake the United States as the world’s leading economy by 2025. The report says that keeping in view the pace of development in China, it is expected that the United States’ reign of unquestioned dominance over the world economy soon be drawing to a close. A noted economist also predicted that the world is heading toward receiving a new economic leader in the shape of China due to its increasing economic growth, ever-expanding cultural influence, and its quest to involve regional economies in trade, business and investment. The economist says that this will happen within the next 10 years. According to the news report, China has been slowly heading toward a point for the last half a century where it will become the world’s largest economy. China already has a slightest lead on the United States in least giving importance to the climate change. At the same time, China has acquired a dramatic rise both in its gross domestic products and stock exchange, definitely showing that the Asian nation is outperforming various global economies in business and trade.
However, the fast industrialisation – rather rampant overdevelopment in China — has raised the pollution level to an alarming level. On another note, many economists do not admit the fastest rate of the Chinese growth, but yuan continues to get stronger against the US dollar and more and more people worldwide will be looking to China, not America in coming years. Many prominent scholars look the answer of the China’s economic dominance in the history, claiming that the United States’ gradual fall from the upper echelon of economic superpower is part of an inevitable pattern seen time and again throughout the world history. They say that all the great nations eventually watch a day that comes when their dominance slips away from their hands. Earlier, the Great Britain was the world’s dominant power for three centuries and now it has been squeezed to an island.
After close cooperation of China with Pakistan, it is expected that Pakistan will also become one of the leading economy in the world in coming years. Pakistan is a nuclear power with advanced defense technology and its economy is also growing at a fast rate. It will be better for the Pakistani government to keep a balance between its political relations with the United States and economic relations with China.