The rapid rise of the Chinese economy from the 1980s，recording annual GDP growth in the range of 10 per cent over a span of three decades，helped foster the notion of an “Asian Century”，exemplified by a shift of global economic and political power from the West to the East.ADB，2011，Asia 2050：Realizing the Asian Century，Asian Development Bank，Manila.China has since emerged as the world’s second largest economy，although China has already overtaken the US on the basis of Purchasing Power Parity（PPP），PPP adjusts for the fact that goods are cheaper in countries such as China relative to the US.it is expected to pull ahead steadily even without such an adjustment in the foreseeable future.