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Probability of China Being the World's Largest Economy in 2020

If current trends continue, China may be the world's largest economy by 2020. Discuss the possible implications of such a development for (a) the world trading system, (b) the world monetary system, (c) the business strategy of today's European and U.S. based global corporations, and (d) global commodity

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If this happens to the economy of the world, indeed things may change. I haven't heard this yearly figure yet, and I thought it was more around the years 2050-2060. Anyway, if this happens the following will be the likely scenario concerning the world's trading system. First it would mean China continuing to export more goods, import more goods and also buy and sell more within its own borders. Related to it being the world's largest economy, instead of the world following the DJIA or the S & P 500, it might follow Shanghai's stock market more. But, this is still debatable, considering the governmental system they still have in power.
The world's monetary system may change ...

Solution Summary

The solution looks at the world trading and monetary systems as well as global commodity and the business strategy of today's European and North American corporations in order to discuss the likelihood of China becoming the biggest economic power. 470 words.