Analysis: What will China offer to the world next?

%3CFONT%20face%3DVerdana%3EAs%20the%20U.S.%20is%20under%20criticism%20for%20threatening%20nations%27%20economic%20stability%20by%20flooding%20money%20into%20the%20global%20market%2C%20China%20is%20preparing%20its%20own%20gift%20to%20the%20world%20economic%20recovery-its%20large%20market.%3CBR%3EStephen%20Roach%2C%20Morgan%20Stanley%27s%20non-executive%20chairman%20of%20Asia%2C%20said%20earlier%20this%20month%20that%20the%20next%20five%20years%20would%20be%20a%20crucial%20period%20for%20China.%20The%2012th%20Five-Year%20Plan%20would%20be%20a%20turning%20point%20for%20China%27s%20economic%20development%20as%20well%20as%20the%20world%27s.%3CBR%3EChina%2C%20with%20a%20population%20of%201.3%20billion%2C%20is%20moving%20quickly%20on%20the%20track%20of%20urbanization%2C%20which%20stood%20at%2046.6%20percent%20at%20the%20end%20of%20last%20year.%20The%20room%20for%20expansion%20promises%20a%20huge%20potential%20in%20domestic%20demand.%3CBR%3E%22The%20transformation%20of%20China%27s%20economic%20growth%20pattern%20would%20make%20China%20more%20sustainable%2C%20which%20is%20desirable%20for%20the%20world%2C%22%20said%20Martin%20Wolf%2C%20chief%20economics%20commentator%20of%20the%20Financial%20Times.%3CBR%3EFurther%2C%20it%20will%20make%20China%20the%20%22dominant%20source%20of%20world%20demand%20growth%20over%20the%20next%2020%20to%2030%20years%22%2C%20and%20China%20would%20%22increasingly%20become%20an%20engine%20of%20world%20demand%20and%20growth%2C%22%20Wolf%20said.%3CBR%3EMany%20foreign%20enterprises%20have%20tasted%20the%20joy%20of%20doing%20businesses%20in%20China%20and%20looked%20to%20the%20market%20as%20the%20main%20source%20of%20business%20growth%20in%20the%20future%20as%20the%20country%27s%20fast%20economic%20growth%20and%20opening%20up%20have%20brought%20enormous%20profits.%20Others%20remain%20keen%20to%20tap%20into%20the%20market%20for%20a%20slice%20of%20the%20cake.%3CBR%3EChina%20grew%20to%20replace%20the%20U.S.%20as%20the%20world%27s%20largest%20auto%20market%20last%20year%2C%20even%20as%20the%20financial%20crisis%20continued%20to%20sting.%20For%20BMW%2C%20China%20has%20proven%20a%20crucial%20driver%20to%20strong%20sales%20in%20the%20third%20quarter%20this%20year%2C%20with%20sales%20surging%2091%20percent%20in%20China%2C%20compared%20with%20a%209%20percent%20rise%20in%20the%20U.S.%3CBR%3EAlso%2C%20U.S.%20clothing%20retailer%2C%20the%20Gap%2C%20opened%20its%20first%20mainland%20store%20recently.%20Its%20entry%20into%20the%20Chinese%20market%20was%20part%20of%20a%20larger%20international%20expansion%2C%20John%20Ermatinger%2C%20Gap%27s%20Asia%20Pacific%20president%20said%2C%20according%20to%20a%20news%20report%20of%20Reuters.%3CBR%3E%22China%20has%20a%20long%20runway%20and%20bright%20future%2C%20a%20growing%20middle%20class%20that%20is%20going%20to%20keep%20growing%20and%20a%20love%20of%20brands%2C%22%20John%20Ermatinger%20said%2C%20referring%20to%20China%27s%20growth%20potential.%3CBR%3EThe%20United%20Nations%20Conference%20on%20Trade%20and%20Development%20issued%20a%20report%20in%20September%20saying%20China%20remained%20the%20most%20popular%20destination%20for%20foreign%20direct%20investment%20in%20the%20world%2C%20and%20likely%20would%20remain%20so%20during%20the%20next%20two%20years.%3CBR%3EFurther%2C%20it%20said%20the%20number%20of%20foreign%20companies%20increased%20by%20more%20than%2014%2C400%20during%20the%20first%20seven%20months%20of%202010%2C%20up%2017.9%20percent%20year%20on%20year.%3CBR%3E%3C/FONT%3E