As Google tries to sort out its strategy in China (yesterday it moved its search engine operations to Hong Kong, and today the Chinese government partly blocked the site), some private equity firms are working to get more involved in the economy of the world's largest nation.  

The Carlyle Group has made a big move into China.  Carlyle Group Founder and CEO David Rubenstein says his firm is not the largest private equity investor in China. He is a little concerned about moves toward "economic nationalism" there, as he is with protectionism other places, including the US.  But that hasn't stopped him from wanting to participate in what he sees as rapid economic growth of the economy.

Rubenstein recently spoke with the Wall Street Journal's Alan Murray, and he said he expects China to overtake the US as the dominant global economy by 2035: