Why China will dominate the world sooner than we expect

Arvind Subramanian wrote an excellent book on "Eclipse. Living in the Shadow of China’s Economic Dominance", which is available in electronic form for free, where he argues that, contrary to common belief, China's economic dominance is much closer to become a reality than we expect. That includes the renminbi's takeover of the dollar as the world's reserve currency in the next decade or so. He discusses what impact these changes would have on the global economy.

A good review of the book is here.