One of the arguments I made in All Politics Is Global was simple -- when it comes to writing the rules of the global economic game, power could be defined as internal market size. Governments that preside over large markets are rule-makers and not rule-takers.
The United States and European Union were the two large market jurisdictions in the book, but the obvious question to ask now is how long it takes before China is thought of a co-equal of those great powers.
In this context, the Wall Street Journal's China blog has a small item showing that on at least one dimension, Beijing is about to make its voice heard:
China is likely to surpass the U.S. to become world’s largest online game market this year, according to a recent report by market research firm iResearch....
iResearch forecasts that the Chinese online market will be worth more than 68 billion yuan by 2012, which will account for almost half of the global market by then. At present, U.S., China and Korea are the world’s top three largest online game markets, making up about 29%, 27% and 21% respectively of the global online game market, according to the report....
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