Perhaps the question ought to be rephrased.
China can certainly become the world's biggest economy. That is no longer an academic thesis type of question.
So much so that for many analysts it is a matter of when not if, less so of possibility.
First theoretical hurdle leapt over a reminder that the latest milestone caps a decade of breakneck speed and overtaking.
China sped past Italy, France, the UK, Germany to now elbow out Japan from second spot.
It is the world's most populated country - by a long shot when compared to the US.
The current growth rate is astounding. More so when set against the historic record spanning nearly three decades.
There is of course no certainty as to such strong growth continuing unhindered.
Large untapped potential, trends and ongoing dynamics point to a predictably hefty rate for many years to come, however.
A slight rate drop does not significantly alter an already big economy growing ever bigger.
For many years China's economy benefited from having got off from a narrow base. Not anymore. Now the country continues to expand at 10%
from a broad base which will inevitably make it increasingly harder to sustain.
China's growth has already impacted the global economy in multiple ways.
From East to West, North to South no country/society has failed to witness first-hand the effects of that impact. While sectors of some economies have been crushed by Chinese competition others have held their ground by facing it head-on.
Or exporting high-end goods to China's burgeoning markets. Or supplying soft and hard commodities the country hungers for.
China has been exercising its financial muscle by buying sovereign-debt from a host of debtor-nations, the US top of the list. Investing only a share of the country's vast stash of accumulated foreign-currency reserves.
Insiders to financial markets - primary and secondary - are likely to know who investors are, on whose orders and wherefrom.
For all the media hype surrounding China's rise the country faces many daunting internal challenges. They cannot be underestimated. Old and new ones too as a result of the country choosing the fast-track to development.
Those challenges will keep it busy creating wealth to meet the needs of hundreds of millions.
Chinese leadership views the nation as poor despite rising average incomes. Rightly so, per capita levels of consumption and social indicators still fall relevantly short of the poorest countries of the developed world.
Real incomes have been rising and even low paid workers can realistically expect improved pay packets in the years ahead.
China's export-driven boom has led to export-market diversification following decoupling from excessive reliance on mature markets.
A positive fallout from the Western world's financial meltdown.
A greater shift to internal consumption is also likely to take place rather effortlessly.
I believe China is moving towards three-engine-driven growth:
Investment, exports and internal consumption.
If it should achieve fair and manageable balance between the three the country is poised for another decade of success.
Provided no major hiccups undercut current assumptions and trends.
As China's profile strengthens and sharpens so will its global role.
But focus will primarily remain on the home front for the foreseeable future.
China can certainly become the world's biggest economy. That is no longer an academic thesis type of question.
So much so that for many analysts it is a matter of when not if, less so of possibility.
First theoretical hurdle leapt over a reminder that the latest milestone caps a decade of breakneck speed and overtaking.
China sped past Italy, France, the UK, Germany to now elbow out Japan from second spot.
It is the world's most populated country - by a long shot when compared to the US.
The current growth rate is astounding. More so when set against the historic record spanning nearly three decades.
There is of course no certainty as to such strong growth continuing unhindered.
Large untapped potential, trends and ongoing dynamics point to a predictably hefty rate for many years to come, however.
A slight rate drop does not significantly alter an already big economy growing ever bigger.
For many years China's economy benefited from having got off from a narrow base. Not anymore. Now the country continues to expand at 10%
from a broad base which will inevitably make it increasingly harder to sustain.
China's growth has already impacted the global economy in multiple ways.
From East to West, North to South no country/society has failed to witness first-hand the effects of that impact. While sectors of some economies have been crushed by Chinese competition others have held their ground by facing it head-on.
Or exporting high-end goods to China's burgeoning markets. Or supplying soft and hard commodities the country hungers for.
China has been exercising its financial muscle by buying sovereign-debt from a host of debtor-nations, the US top of the list. Investing only a share of the country's vast stash of accumulated foreign-currency reserves.
Insiders to financial markets - primary and secondary - are likely to know who investors are, on whose orders and wherefrom.
For all the media hype surrounding China's rise the country faces many daunting internal challenges. They cannot be underestimated. Old and new ones too as a result of the country choosing the fast-track to development.
Those challenges will keep it busy creating wealth to meet the needs of hundreds of millions.
Chinese leadership views the nation as poor despite rising average incomes. Rightly so, per capita levels of consumption and social indicators still fall relevantly short of the poorest countries of the developed world.
Real incomes have been rising and even low paid workers can realistically expect improved pay packets in the years ahead.
China's export-driven boom has led to export-market diversification following decoupling from excessive reliance on mature markets.
A positive fallout from the Western world's financial meltdown.
A greater shift to internal consumption is also likely to take place rather effortlessly.
I believe China is moving towards three-engine-driven growth:
Investment, exports and internal consumption.
If it should achieve fair and manageable balance between the three the country is poised for another decade of success.
Provided no major hiccups undercut current assumptions and trends.
As China's profile strengthens and sharpens so will its global role.
But focus will primarily remain on the home front for the foreseeable future.
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