China's economy will exceed the United States in 2020

China will surpass the U.S. to become the country with the largest economy in the world by 2020, according to Standart Chartered Plc.

We believe that the world is in the 'super cycle' prolonged high growth," said the economists, led by Gerard Lyons in his report. "The scale of change within the next 20 years will be very big”.

The Chinese economy will be larger than United States, in 2030 and will cover 24% of global production, up from 9% today. India will pass Japan to become the country with the third largest economy in the next decade  according to the report, said Lyons

The world will experience a "super cycle" in the third, as "a period of high global growth in history, which lasted for a one generation or longer.

characterized by the emergence of a new economy that looks great from the very rapid growth in developing countries driven by increased trade, higher investment, urbanization and technology, wrote Standart Chartered.

They also added that the super cycle of growth marked with a stable currency that can be closely linked to gold or silver, the currency union. Concerns today about the "currency war" highlights the challenges with the current system, according to Standart Chartered.

"The possibility of a formal change in the stability of the currency on a global level cannot be avoided," according to the report

However, for the present context, it is difficult to predict. Greater currency interventions may occur, and we can see more state control of the currency and the currency of reference may be a kind of norm for currency policy

Previously, the super cycle occurred from 1870 to 1913, and at the beginning of World War until the early 1970s, according to Standart Chartered.