$123,000,000,000,000: China’s estimated economy by the year 2040: Be warned!

In his article China’s estimated economy by the year 2040: Be warned Fogel projects that the Chinese economy in 2040 will reach $123 trillion - nearly three times the economic output of the entire world in 2000. He also states how China's per capita income will hit $85,000, more than twice that of the European Union, and also a great deal larger than the per capita income of India and Japan.

In other words and as described by Fogel, when China goes from a poor 3rd world country in 2000 to a superrich country in 2040 the average Chinese megacity dweller will be living twice as well as the average Frenchman. Although China’s economy will not have overtaken the United States in per capita wealth, according to Fogel China's share of global GDP -- 40 percent -- will dwarf that of the United States (14 percent) and the European Union (5 percent) 30 years from now.

Robert Fogel, a Nobel winning economist, projects that China will soon have a massive share of the global GDP.

Here’s what the GDPs looked like in 2000 according to Fogel.

United States 22%

European Union 21%

China 11%

Rest of the World 28%

India 5%

Southeast Asian Communities 6%

Japan 8%

Here’s what the GDPs may look like in 2040 according to Fogel.

China 40%

United States 14%

Rest of the World 15%

Japan 2%

European Union 5%

India 12%

Southeast Asian Communities 12%

Pic from (http://www.chamberlain.net.au/~ken/...) thanks!