Amidst Chinese contribution in global economic growth as the world’s biggest exporter, the developing economies/nations are expected to have significant influence from Chinese economy rather than from other large economies, i.e., U.S. or Europe, projects HSBC Holdings Plc. Stephen King, HSBC chief economist opined, “We are moving away from a U.S.- or Europe-led world to a world led by China.” This statement clearly exhibits the significance of Chinese contribution towards the world economy compared to U.S. or European economy at this point of time and henceforth. Quoting the term “great rotation,” King further emphasized on Chinese contribution in the year 2014 concerning contribution in global economic growth.

With 7.8 percent economic growth rate for year 2012, China’s growth rate for the year 2013 is projected to be 8.6 percent, an accelerated growth rate. Having such acceleration in economic growth rate, the Chinese economy would not only contribute towards global economic prosperity, but is also expected to support its surrounding Asian economies combined with large and developed economies. With growth rate of around 5.4 percent projected for emerging world economies for the year 2013, Chinese growth rate could take its economy to a peak level in the year 2013, opine economists. Countries like South Korea, Singapore, Malaysia, Australia and Saudi Arabia increasing their exports to China, it could be predicted the supremacy of Chinese economy over global economy is set to be revealed by the end of 2014.

From this situation, what economists and market analysts are projecting is the impact of Chinese economy over emerging nation’s economic perspective and how they are driven by the Chinese economic regime. It is also expected that Chinese economy would abundantly drive the emerging economies amidst its global impact and contribution to global economic growth.

Despite China not having economic growth rate of 10 plus percent as in the past, considering current global economic scenario, the contribution of Chinese economy to global economic position is extremely large and significant. Economists from developed economies are also considering China as a “pull factor”, which is, indeed, required for global economic prosperity.

With recession striking the European economy and U.S. having below than expected economic indicators, its China, which is expected to deliver a glimpse of hope to the entire world economy in the year 2013.