It's not long that China will become the world's biggest economy, that now is the second largest after the United States.
But at the rate it is going, sooner by some few years, it will take its place as the world's largest overtaking the US.
It will also lead the world to replace the IMF- World Bank that we know, that upon at the moment , China is already shaping its own IMF world Bank version that sooner, nations will take its loans and service for developing countries like the Philippines.
Sooner also, by the rate it is going, Yuan will replace the US dollar as the world's currency.
Now, what is the impact of all of these things happening over China? How can the Philippines benefit from it, or how our country can defend itself on the impact and effects of China becoming the world's new leader replacing the United States.
Fundamentally, it is time to study our own economic condition and prepare the economy to move into into industrialization as the basic means of facing the change of hands in world economic power in few more years.
Industrialization is only the key to defend the country on the impact of the china's economic power. Unless steps are taken to move into this field of economy, there will be difficulties ahead that will create troubles over the aggressive trade practices of China and how it treats others who are weak economically.
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