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At some point, the spectacular growth in China has to stop.

We all know that China is industrializing at a growth rate of 8 to 10 percent per year. China is on track to pass the U.S. as the largest economy in the world in 20 to 25 years, and China is determined to give its people a chance at this high standard of living that we enjoy.

Even as China's growth slows, it will continue to be a powerhouse for the global economy.

Chinese growth will either be strong or very strong. They have a voracious demand for energy that will only continue to grow. What they're doing... is looking at all forms of energy. They're going ahead very strongly with coal, nuclear, oil, natural gas.

China is doing lots of things right. It's investing in education and R&D, it's opening up, it's more cosmopolitan than it's ever been. I think it's very likely that China will continue to explode economically and certainly become a superpower.

China's development benefits other countries.

China's development is an opportunity for the international community, for Japan and for the Asia-Pacific.

I think the rise of China is inevitable, because China has moved from a low-cost producer, at low levels of technology, to higher levels of technology, and because it's very competitive, even in some high-tech products they offer at very competitive rates - much lower than their competitors.

You are slowly developing some multinationals of your own. We certainly hope that some of them will look in this direction when they look for opportunities because the progress of Southeast Asia is important to China, just as China's progress is important to us.

Increasingly, the Chinese will own a lot more of the world because they will be converting their dollar reserves and U.S. government bonds into real assets.