How long does the China economic miracle have to go? I have said 10 years at the minimum, but even that optimistic view could be too low.
Justin Lin Yifu, head of Peking University’s China Center for Economic Research and chief economist of the World Bank, was quoted in the May issue of the Harvard Business Review that he expects the Chinese economy to be 2 1/2 times the size of the U.S. economy by 2030.
“I believe China’s economic momentum is very likely to maintain a similar growth rate of the past 25 years, at about 8 percent.”
He bases that upon the assertion that China’s position in 2000 is very similar to Japan in 1960. Once Japan took off, it managed to grow at a high speed for almost 30 years.
You better have some China in your portfolio or you’re missing out on the stock market opportunity of our lifetimes.
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