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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.

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

As I talk with the Chinese on currency, I encourage them to move much more quickly with opening up their capital markets to competition, because I don't believe the world is going to give them as much time as they would like.

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.

The Chinese economy has huge potential and flexibility.

We need the Chinese to - you know, spend more, save less - consume more and not be so focused on exports. There are big changes we need in the world.

If the Chinese can't buy U.S. products, they'll buy them from European countries and then develop stronger economic ties with France and Germany and perhaps side more with those countries when international issues flare up.

China has made important contribution to the world economy in terms of total economic output and trade, and the RMB has played a role in the world economic development. But making the RMB an international currency will be a fairly long process.

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.

Probably in 2035 we will pass that mantle on to China. It will be the biggest economy in the world, and it will go way past us and way past India. Given the growth, the size, the opportunities, I don't think there's any other place in the world that can match it.