By 2009 China will become the world's largest exporter, passing the United States, currently in second place, within the next two years and then overtaking Germany to take the top spot.
And it will continue to grow, says Jeffrey Rosensweig, director of the Global Perspective Program at Emory University's Goizueta Business School in Atlanta.
Rosensweig was a featured speaker at the recent National Cotton Council's annual meeting in Austin, Texas.
He discussed the global economy at the NCC general session and touched on population growth, industrialization of key developing countries, and the role currency manipulation plays in international trade.
He said China has made a "huge jump" in a relatively short time to become a major export power. "They are not slowing down," he said.
He said concerns that China's communist government would interfere in the current business-friendly environment might not pan out.
"More students from China than from any other country are now educated in the United States," he said. "That will have an effect on government." He says students see how American democracy works and take ideas back to China.
The growing economy suggests change. China's economy has grown at a 10 percent annual clip since 1979, the fastest growing country in the world. India is second.
Energy accounts for much of the gain.
He said the euro is up against the dollar, as is the Canadian dollar. But some trading partners continue to manipulate currency to stay competitive.
Rosensweig said Mexico finds it hard to compete with China's low wages, productivity, infrastructure and technology.
U.S. population growth continues with an average two children per family. Immigration adds to U.S. population.
Rosensweig said China's population, currently at 1.3 billion, will reach 1.5 billion by 2030, with the bulk of the population still at working age. The bulk of the U.S. population is in the Baby Boomer segment.
For now, that may be China and then possibly Viet Nam as China's population ages.
India's population, currently at 1.129 billion, will reach 1.532 billion by 2030.
Finland, Iceland and New Zealand all come in at number one. Haiti takes the spot as the planet's most corrupt nation, at number 163. The United States "is not perfect," Rosensweig said, and ranks 20th.
China is much farther down the list at 70, along with Brazil, Mexico and India. Russia is 121 and Indonesia is 130.
He said problems come after industrialization for most countries. "Pollution follows industrialization," he said.
He said China's 10 percent annual growth rate would come with significant pollution problems.
He also said improved economics may affect governments. "After people are able to feed their kids, they want democracy," he said.