Would english ever be overtaken ?

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At this point in time,English has emerged as the most widely used and prefered as the international language of commerce, but China ,the sleeping dragon has awaken and steadily gaining ground in the international business environment, chinese businesses eventually will be equal if not more influential than their international counterparts yet their prefered language for international trade is still english,wise move i'd say..in comparison to Japanese ,who were so rich n successful but many hardly could communicate in English, so question being ,is one language ,in this case English,if can be standardized as the international tool for business , a useful and smart thing or does it make any difference ?would mandarin gain a foothold and gain widespread use beacause of china emerging as a powerful player in the world scene.?