China rises to the top of the global economic ladder

Let us recognise the global implications arising from China rising to the top of the global economic ladder. This will be the first time since the rise of the Spanish Empire 500 years ago that a non-western power will be the dominant global economic power. And the first time since Pitt the Younger that a non-democracy will be the world's largest economy. - Hon Kevin Rudd, Australia's Foreign Minister.