It's a question that's been asked a lot in the past few years.
With annual GDP growth rates of 9-10% for 30 years, China has quickly become the second largest economy in the world, overtaking all but the United States.
Even with China slowing, its economy is still expanding at double the pace of America's.
So, thanks to the power of compound growth, growing at 7% means the Chinese economy will double in size in about a decade. That would bring the Chinese economy to the same size as America's is now.
With the US growing at only around 3% per annum, speculation as to when China takes the crown is gaining momentum.
Omo, i get this gist from bbc news
With annual GDP growth rates of 9-10% for 30 years, China has quickly become the second largest economy in the world, overtaking all but the United States.
Even with China slowing, its economy is still expanding at double the pace of America's.
So, thanks to the power of compound growth, growing at 7% means the Chinese economy will double in size in about a decade. That would bring the Chinese economy to the same size as America's is now.
With the US growing at only around 3% per annum, speculation as to when China takes the crown is gaining momentum.
Omo, i get this gist from bbc news
Level don change be dat oooo.....
imma get the stats later for your downloads ohk!
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