From the Guardian: “The rapid growth of large emerging economies, particularly China, is shifting the global balance of economic activity. China is already the world’s second largest economy on one economic measure and, by 2015, could account for around 20 per cent of world output in real terms.
It is therefore vital to the UK’s economic strength and international competitiveness to be in the strongest possible position to harness opportunities arising from China’s growing economic strength. As the Chancellor set out in his Pre-Budget Report, and detailed in a new analysis published by the Treasury, government has a critical role to play in areas such as trade, investment and regulation, establishing sustainable macroeconomic foundations and promoting flexibility in markets. ”