Coming Chinese Hegemony

From George Will:

[Robert Fogel, a Nobel Prize-winning economist,] expects that by 2040 China's GDP will be $123 trillion, or three times the entire world's economic output in 2000. He says China's per capita income will be more than double what is forecast for the European Union. China's 40% share of global GDP will be almost triple that of the United States’ 14%. Fogel finds many reasons for this, including the increased productivity of the 700 million (55%) rural Chinese. But he especially stresses "the enormous investment China is making in education."