Achieving China's Next Stage of 'Catch-up'

Over the past decade, significant debate has emerged on the extent to which China will be able to catch up to the West. There are numerous indicators on either side of this debate. Fueled by over 30 years of close to 10 percent annual growth, in 2010 China surpassed Japan to become the second-largest economy in the world. At the end of 2014, China, by one measure, surpassed the United States to become the world's largest economy. And its number of companies on the Fortune Global 500 increased from 20 in 2005 to 95 in 2014.