In this 2005 blog post, which is still as relevant today as it was then, Gary Becker, 1992 Nobel Prize winner, suggests a cautious "probably not."
Rapid growth over the short term from a low starting point does not necessarily translate into continued rapid growth in the longer term. In essence, it's easier to generate rapid growth when you're poor. China will struggle to maintain this as it gets wealthier.
Becker also points out that there have been many other cases of countries growing rapidly that have led to misplaced views on their eventual economic domination (Germany, Japan, Russia).
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