and the Organisation for Economic Co-operation and Development. It has since remained in that position, second only to the United States.
Some economists have predicted that China's economy will surpass America's by about 2030. But when taking into account the different standards of living across countries — also known as adjusting to purchasing power parity — the Chinese economy has been the world's largest since 2014, according to the World Bank.
Growth accelerated in the years after that, averaging at around 10% before slowing down to an average of 7.1% under current president,However, a study released in March by the Brookings Institute estimated that China may have overstated its GDP growth from 2008 to 2016 by 1.7 percentage points.One major driver behind China's economic rise was its massive network of factories that churned out everything from toys to mobile phones for consumers all over the world.
China's entry into the World Trade Organization in 2001 helped it cement its status as the world's factory and largest trader. In the McKinsey report which analyzed 186 countries, China was found to be the largest export destination for 33 nations and the largest source of imports for 65.In addition to its dominance in trade, China has also grown over the years to become a major player in global investment flows.
How much are you paid?😄
CNBC, you forgot one more chart. 😂
“China good, America bad” ~CNBC
Good Insight
Fake news
China’s middle class today is where America’s middle class was in the 1950s. In 20 years China’s middle class will be where America’s middle class was in the 1980s. Get the hint.
一天的工钱只买的起两三斤猪肉，这是崛起？天哪
Sounds like CNBC is happy about this.
Don’t show those to trump he will use his sharpie all over them.🤡👺👹
Oh don’t say it! You’ll frighten the Americans.