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China’s enduring potential

Justin Yifu Lin's picture

China has been the fastest growing country in the world over the past two decades and as it gains economic clout, it is worthwhile to envision where the country is going and how it has gotten to where it is today.

In 1990, while China was home to 20 percent of the world’s population, it commanded a mere 1.6 percent of global GDP. Now it is the world’s second largest economy and produces 8.6 percent of global GDP (in 2009). Even after that extraordinary leap forward, the country still has the advantage of backwardness and it has the potential to have another 20 years of rapid transformation.