Yang He

China's Appearing on the Horizon: the Changing Pattern of Global Economy Yang He

Since the new century, especially so for the past five years, the particular striking matter in the world is that the pattern of the global economy as a whole is changing. The developed countries are suffering a financial crisis and economic depression, the BRICS countries are rising and having fast economic booming, especially China is experiencing a rapid economic rise, which all marks a new global economic growth pattern formation. The paper re-analyzed the basis of two round migrations of the world's centers of economic growth in modern economic history, and points out the third round of economic growth centers are formed but has not yet been completed. It is necessary to recognize this global economic growth pattern in the future, and understand properly the impact and consequences of the third round of economic growth centers. It is analyzed the symbols of the fact that the rise of China, mainly resulting in the change of the global economic pattern, as well as the main features of the new pattern. The global economic structure and pattern in 2020 are expected to be: dual master countries (that is both China and United States) drive and multi-centers pattern.