The yuan appreciated 1.5 percent last quarter as prices for items such as food, rent and transportation increased the most in 27 months. Goldman Sachs Group Inc. and JPMorgan Chase & Co. predict that inflation will force America’s second-largest trading partner to let its currency strengthen at least 7.5 percent in the next year, more than twice as much as in 2006.
If this currency appreciation occurs and continues then my prediction of Chinas economy passing the USA economy in overall size on an exchange rate basis by 2020 will occur.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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