What is China's present stage of economic development?

I have a new article at China.org.cn comparing China's present stage of economic development to the historical growth of Japan and South Korea. Its conclusion is:

'Today, China's Haier is the world's largest domestic appliance manufacturer, Huawei is likely to overtake Ericson as the world's largest telecoms equipment producer in the next two years, and China is already the world's largest manufacturer of high speed trains.In short, China's development today is entirely equivalent to Japan or South Korea at a similar stage of their economic growth.'

This provides the basis during the next years for international extension of China's leading brands - as occurred with Japan and South Korea..