China deserves Nobel Peace Prize

Morits Skaugen, a Norwegian entrepreneur, published an article in the Norwegian newspaper Aftenposten on Oct 12, in which he credits China for its development and progress and suggests that it is China that truly deserves the Nobel Peace Prize.

Skaugen says China's development is the greatest economic development we have ever seen, and that it will have a profound effect on the future. It is possible that the United States and European countries will not be able to maintain their long held dominance over the world economy.

This year China will likely overtake Japan to become the world's second largest economy. However, it is still a developing nation in terms of per capita gross domestic product, which is still well below that of Japan.