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By the time Deng Xiaoping made the sweeping decision to open up China’s economy to the outside world in 1978, the poverty rate had been cut to about 40%. Roughly four decades later, the World Bank pegged China’s rate at 0.1% - compared with 9.7% globally. More @Wikipedia
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- China's economic growth story recapped | World Economic ForumBy the time Deng Xiaoping made the sweeping decision to open up China’s economy to the outside world in 1978, the poverty rate had been cut to about 40%. Roughly four decades later, the World Bank pegged China’s rate at 0.1% - compared with 9.7% globally.
- What will global GDP look like in 2030? | World Economic ForumIn 2015 in Africa, the average GDP per person was $20,000 less than the global average, at around $4,000. The ERS International Macroeconomic Data Set shows that the average GDP per person in the United States for 2015 was more than $50,000.
- The world’s top economy: the US vs China in five chartsBoth the IMF and the World Bank now rate China as the world’s largest economy based on Purchasing Power Parity (PPP), a measure that adjusts countries’ GDPs for differences in prices. In simple terms, this means that because your money stretches further in China than it would in the US, China’s GDP is adjusted upwards.
- A brief history of China’s economic growthWhile the average growth rate of real GDP between 1978-2012 has been an impressive 9.4%, that figure could decline to between 7-8% between 2012-2024 in the authors’ base case. This is significantly higher than most commentators believe is likely given clear signs of a slowing economy in China’s recent economic data. Here are their projections:
- China’s shifting industries reshape long-term growth modelChina is shifting from high-speed growth in gross domestic product (GDP) to a focus on advanced technology and manufacturing, aiming to enhance the quality and sustainability of economic development. The Chinese economy faces short-term structural challenges, including high debt levels, overbuilding, a real estate slump, youth unemployment ...
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