China faces a great wall

In this land where profit is sacred and wealth divine, the idea of imminent change in the global economic pecking order seems to have inherent appeal. Yet, the thesis of Arvind Subramaniam, of the Institute for International Economics in the US, elaborated in his recent new book, Eclipse: Living in the Shadow of China's Economic Dominance, appears far-fetched. The book predicts that the renminbi would overshadow the dollar as international reserve currency by the early 2020s, and that by 2030, the Chinese economy would be as dominant as the US was globally circa 1950. 

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