The Organization for Economic Cooperation and Development in Paris said that China was on course tosurpass the U.S. economy in just three short years. By 2016, the United States will no longer be the world’s No. 1 economy. That title will be handed over to none other than the current No. 2: China.

But China still has a lot of growing to do. By comparison, it’s per capita income is three and a half times less than that of the U.S., and even less than Brazil. But most economists forecast thatChina’s rapid urbanization — now at 50% and seen rising to 70% within five years — coupled with higher incomes will change the way China operates. As it is, China is moving from an export driven economy to a more Western one that is geared to its local consumers.

Its new leadership has made social programs a focus of its five year plan as well. China, for all its wealth in the Eastern cities, is still a poor country. And an aging one. China will spend billions building out its social safety net over the next few years, improving the livelihood of retiring and elderly Chinese.

The country is also focusing more on high tech, value-added production. Green energy is a strategicfocal point of the country’s 12th five year plan and that means investments in new sectors — from electric cars to lithium batteries, to alternative energies designed to eradicate China’s pollutionproblem. All of this investment is seen as a further catalyst for rapid growth in China.