China to Influence Emerging Economies More Than U.S., HSBC Says

China will have a bigger influence than the U.S. or Europe over the economies of developing nations as the world’s largest exporter increases its contribution to global growth, according to HSBC Holdings Plc.

“We are moving away from a U.S.- or Europe-led world to a world led by China,” Stephen King, HSBC’s chief economist, wrote in an Emerging Markets Index report published today. “China will make its biggest-ever contribution to global growth in 2014,” King said, in what he termed a “great rotation.”