Can China become the world's biggest economy?
China has overtaken Japan as the world's second-biggest economy. How does this affect the global economy? And how might it affect businesses and consumers in the UK?
Japan's Economics Minister Kaoru Yosano played down the significance of the shift and said that "as an economy, we are not competing for rankings but working to improve citizens' lives." Japan has been hit by a drop in exports and consumer demand, while China has enjoyed a manufacturing boom.
At its current rate of growth, analysts see China replacing the US as the world's top economy in about a decade.
The BBC's economics editor, Stephanie Flanders, commented on her blog that "China's currency won't be a serious rival to the dollar until China opens its capital account and frees up its financial system," allowing for foreign investment in China and money to go out to the rest of the world.
What impact will China's growth have on the global economy? Could it bring a financial boost to the UK? Will China change its global role?
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