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I think China will have another 2 decades rapid growth before it converges with industrialised economies and begin to slow down.
But there are a few issues that China must pay attention to. The first one is how to avoid or prevent assets bubbles that caused Japan a decade in the 1990s and the current great recession in the major west economies.
The second is how to manage or deal with large international capital flows that contributed or triggered the Asia financial crisis in the late 1990s.
The third one is how to manage urbanisation and economic transformation of current rural population.
The fourth one is how to manage inter-regional and inter-personal income inequality, so they will not be too excessive.
The fifth one is how to manage its impact on international trade as a result of increasingly large and rapidly growing economic capacity, including its exports on other economies and its demand for energy and commodities.
Another one is how to how to manage the economy to become less carbon dependent to combat global warming, as well as to improve the more visible environment, like air and water quality.
Also, macroeconomic management requires a transformation to be more open and transparent and non-discriminative as compared to government command.
Maybe another one is how to manage large firms and competition, consumer protection.
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