Has the next great world power yet to be formed?

Has the next great world power yet to be formed?
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Answer :

It was formed in 1949, but it has only been 30 years since it has allowed a form of capitalism to flourish on its shores. It is investing massively in cheap computer chips, in automobile manufacturing, computer technology and alternative energy. It had an 8% growth rate in GDP during the “worldwide” recession, and it owns the single largest tranche of US debt.
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