CASS: China to become world's biggest economy in 2020

15:36, April 08, 2011      

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By 2020, China's aggregate economic output will exceed the United States, making it the world's biggest economy, a blue book released by the Chinese Academy of Social Sciences (CASS) on April 7 predicted.

The "Emerging Economies Blue Book 2011" by CASS predicted that the economic aggregate of the BRIC countries is expected to exceed the United States by 2015, five years earlier than the year predicted by Jim O'Neal, chairman of Goldman Sachs Asset Management, in February 2011.

The blue book pointed out that the economic aggregate of the BRIC is expected to account for 22 percent of the world's total economic aggregate by 2015 and the development of China and India is faster than other BRIC countries.

By Zhang Hongyu, People's Daily Online
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