Robert Fogel of Chicago Univ (and 1993 Nobel winner) is an eternal China optimist. In this FP article he points some startling ideas on Chinese economy (HT Marginal Revolution)
Some forecasts:
- China is going to be USD 123 trillion economy by 2040! This would be 3 times the economic output of the world economy
- The per capita income would be around USD 85,000, double that os EU and much higher than Japan and India
- China will contribute 40% of world GDP compared to US 14% and Europe just 5%
- Average Chinese urban dweller would be twice as well-off as the average Frenchman
Reasons:
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