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China's emergence as a world economic power follows years of expansion, with growth of 9% or more the norm.
It is a major exporter and may now be the world's fourth largest economy, having overtaken Italy and possibly the UK and France.
India has also seen dramatic growth - of more than 7% a year - and is the recipient of much foreign investment.
Figures from the Economist Intelligence Unit suggest the US will remain the largest economy in real terms.
But on a measure based on purchasing power, China could overtake the US by 2020.
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One-Minute World News
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