China will be the world's largest economy as early as 2017 and its economic growth could slow to 3 to 4 percent annually in the 2040s, according to a report released by PricewaterhouseCoopers Monday.

The report, titled "World in 2050," projected that by 2050, based on GDP in terms of purchasing power parity, China, the US and India could be by far the largest economies.