China may never become the world's biggest economy and has thrown out its old playbook, Mohamed El-Erian says

• It's highly unlikely that China will implement large-scale stimulus, Mohamed El-Erian said.
• Without it, markets shouldn't expect China's previous rate of growth to come back, he wrote in the Financial Times.
• "Despite what many may continue to tell you, it is no longer a given that China will become the world's largest economy."

Bets that the Chinese economy still has a shot at reaching the top might have to be reconsidered, Mohamed El-Erian wrote in the Financial Times. 

Though blowout growth of past decades has helped China become the second-largest economy in the world, Beijing's approach towards the current slump has dampened views that it will overtake the US.