Tony Blair: China destined to become the world's 'dominant' economy

LONDON (AP) - China is destined to be the world's dominant economy and it is likely to be involved in future economic summits, Prime Minister Tony Blair said Wednesday.
Speaking at a news conference, Blair said it was inevitable that China would overtake Britain as the world's fourth-largest economy.

"At some point I'm afraid the Chinese economy is going to overtake not just Britain but Japan, Germany and, eventually, the United States. That's just the way it is," Blair said.

"The Chinese economy is going to be the dominant force in driving everything," he said. "That's why you've got higher oil prices, higher commodity prices. As the Chinese economy grows that's why climate change is so important."

The Group of 8 summit partners would have to agree on any move to expand to include India and China, he said.

However, he added, "I would find it hard to imagine we were going to have future G-8 summits in which they weren't, in some shape or form, participating."

© The Canadian Press, 2005