Superpower: An Insight into the Growth Era of China
85 Pages Posted: 8 Mar 2013 Last revised: 10 Mar 2013
Date Written: November 25, 2012
The basic aim of the Project is to study if China can become the next Super Power of the world. Throughout the history we have seen that the crown of “The World Superpower” has shifted from one nation to another. So to study this shift in Power we have considered four Economies that are United Kingdoms, United States of America, China and Japan. There are Infinite factors which help a nation become a Super power but for this study the variables taken are the share of a country in world GDP, share of a country in the world trade, a country’s share in the world patents, world share of patent granted to patent applications, a country’s military expenditure in the world military expenditure. In this project we have tried to predict when China will become the World Superpower by estimating different GDP growth rates for China. The GDP growth rates considered for China are constant at 5%, 7%, 8%, 9% and 10% respectively for the period 2011 to 2050 while keeping USA’s GDP growth rate constant at 2% and world GDP growth rate constant at 5% for the same time period.
Keywords: superpower, China, USA, UK, Japan
JEL Classification: Z00
Suggested Citation: Suggested Citation