Global dominance has been postponed, maybe indefinitely.
www.nytimes.com
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And demographic factors such as China’s rapidly ageing population could keep its potential economic growth rate below that of its Asian peers such as India and the Philippines.
www.scmp.com
Has it truly escaped the middle-income trap?
www.economist.com
Goldman Sachs Group Inc. upgraded its forecast for China’s gross domestic product growth this year after the government reported stronger-than-expected economic data and the recovery gathers pace.
www.bloomberg.com
I put this links that are bit pesimistic tone to more moderate tone on Chinese Economy future. I only put from sources that 'mostly' acceptable. Thus I don't put sources from Chinese Markets (to avoid being call bias sources).
Even that, the verdict so far that their growth will be much moderate but still growing. They are going to avoid "middle income" trap that some Western anti China pundits predict and hope. Still they are growing in average of 4%-6%, and that's still about double then the average of OECD countries. This despite problem with demographics that China will face and can't be avoided.
China will face aging populations, but so does Euro zone, North America and rest of East Asia. Is Aging population problematic, off course it is. However is it also means aging population going to end respectable economic growth ? That's where many analysts and market experts still devided.
I'm not going to talk all the view on aging populations towards economic growth. It is in open sources and everyone can look and read it. However personally I do agree on the view on Aging populations will not stuck an economy toward stagnation. As long as technological developments still going strong.
Aging populations can create conditions where the youngs going to Urban area where more productivity created through Industrial and Services, and older populations move to Rural area where slower pace agricultural sectors resides. This trends begin to be seen in Japan. Where some middle income 40's-50's something move back to rural, sometimes bring their minor childrens or left their Uni age childrens in Urban area. Agricultural sector also shown more or less can be held productivity level with more tech/machines power and less man power.
In that sense if this is the trend of future on aging populations economies, it will not create a booming production boosts like before, but also not create stagnation. For China, despite aging populations and slowing down population growth, it is still large enough populations to provide still strong productivity centers.
China already surpass US on PPP GDP and still being predicted to overtake US on Nominal GDP, by middle of next decade. For an economy that relied more on domestic production for domestic market more than export-import (thus internationally trade), PPP will matter more to shown their real productivity. Thats why CCP now for last several years aim more on enlarging their own domestic market and consumption.
In short, despite all their predicted problem including aging populations and stagnation even decreasing populations, this does not mean China will also face stagnation in Economy. In fact still being predicted they will still growing double than average OECD. However will not be as much as high growth in last three decades. Still it is part of economic evolution cycles that many OECD countries face before, including US.
Thus China still going to be global economic growth engine for sometimes in futures.